Russian Central Bank

The Russian Central Bank's decision to halt foreign currency purchases on the domestic market came into effect following a sharp decline in the ruble, which fell to an alarming exchange rate of 113 rubles per dollar on Wednesday. The move aims to stabilize the currency amid heightened market volatility.

The European Union yesterday slapped new sanctions on Russia over its war on Ukraine, targeting Moscow's shadow fleet of tankers moving liquefied natural gas through Europe as well as several companies.

"As all the EU heads of government gave speeches one after the other, the meeting dragged on late into the night. Prime Minister Petkov, as he tells it, went from one colleague to another during those hours - including Emmanuel Macron and Olaf Scholz.

The head of the Russian Central Bank warned yesterday that the country's economy faces pressure from abroad that could persist indefinitely, dampening hopes that conditions could return to what they were before Russia sent troops into Ukraine.

Montenegrin government session in Podgorica. Photo: Government of Montenegro

The government adopted the measures on Friday, more than five weeks after it joined EU sanctions on Moscow on March 1.

Deputy Prime Minister Dritan Abazovic said the move covers a wide package of restrictions on Russian officials, banks, companies and media.

Montenegrin Government session in Podgorica. Photo: Government of Montenegro

An MP for the largest opposition party, the former ruling Democratic Party of Socialists, DPS, Milos Nikolic, accused the government of ruining the country's reputation.

The European Union will launch a total economic war against Russia. This was stated by the Minister of Finance of France Bruno Le Maire in an interview with France Info radio.

"We will launch a total economic and financial war against Russia," the minister said. "The Russian people will bear the consequences."

According to BIRN's findings, Vojin Lazarevic, Toplica Spasojevic and Obrad Sikimic used a system of double booking to avoid Russian Central Bank scrutiny of the fact that the bulk of the bank's loans - paid for out of deposits of the Serbian National Bank, NBS - were going to their own companies.