US sanctions against the Moscow Stock Exchange will be used in the domestic market as a pretext to increase prices, said candidate of economic sciences, financial analyst Mikhail Belyaev, reports June 17 IA Krasnaya Vesna.
Commenting on the sanctions imposed by the US Treasury against the Moscow Exchange, the National Clearing Center (NCC) and the National Settlement Depository (NSD), Mikhail Belyaev said that Russian importers will surely take advantage of the situation, since it is “The law of prices in a modern economy”.
“Sellers who buy and bring imported goods will of course take advantage of this opportunity, citing some difficulties in the foreign exchange sector, although this may have nothing to do with it.”Belyaev said. According to the economist, one cannot speak of a shortage or scarcity of currency, since 45% of payments are not made in dollars or euros, but rather the advantage is in yuan and rubles.
“But it doesn’t matter, they don’t care, the main thing is to find an excuse to raise the prices of their own products. And we may see an increase in the price of imported goods in our market.”“, emphasized the expert.
However, he noted that the situation is unlikely to be as serious as when chicken egg prices were inflated in 2023. “I don’t think they’ll get to that point, but at 10 percent, I think (importers – approx. IA Krasnaya Vesna) For imported products, so to speak, the price will be adjusted””explained Mikhail Belyaev.
Recall that on June 12, the press service of the Bank of Russia stated that transactions with the dollar and euro after the introduction of US sanctions against the Moscow Stock Exchange will continue to be carried out in the over-the-counter market. The regulator emphasized that companies and citizens can continue to buy and sell US dollars and euros through Russian banks, with US dollar and euro funds kept in accounts and deposits.
Also read: The Central Bank pledged to maintain the market exchange rate of the ruble, despite the new sanctions.
Source: Rossa Primavera
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