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ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: Japan to join sanctions against Russian central bank. Reuters: China would diplomatically support Russia in case of invasion of Ukraine. Airspace closure is another blow to global supply chains. France's TotalEnergies will no longer invest in Russia, but will not leave the country. Habeck: Sanctions against Russia will slow down the recovery of the German economy. Ukraine imposes state of emergency, West sanctions; Russia withdraws diplomats. Russian attack on Ukraine has increased the price of oil and gas, will probably hit the European economy. Analysis: Escalation of the conflict in Ukraine will lead to increased inflation in the Czech Republic. The Czech National Bank has begun to intervene in the foreign exchange market to prevent the weakening of the koruna. Britain has announced the largest sanctions package to date in response to the Russian attack. Analysts: The conflict in Ukraine will initially affect mainly energy and food. Bitcoin has strengthened by about 13 percent since the Russian invasion of Ukraine. France's TotalEnergies will no longer invest in Russia, but it will not leave the country. Other Western companies are leaving Russia, such as Norway's Equinor. The number of counterfeit banknotes and coins seized in the Czech Republic rose significantly last year to 6,836. The Chinese are buying Russian chocolate as a sign of Russia's support in the conflict with Ukraine. Analysts: Sanctions will hit Russia hard, but it will not destabilize the banking sector in the Czech Republic. Bloomberg: The richest Russians have already lost $83 billion this year. After the CNB's interventions, the crown began to strengthen against the euro and dollar. BBC: Black Monday of the Russian economy.

Stock exchanges: The price of gas for the European market increased by a third due to the attack on Ukraine. Palladium, gold and other precious metals rise in response to anti-Russian sanctions. Gold price exceeds $1,900 for the first time since June due to tensions over Ukraine. Gold price nears nine-month high due to Ukraine crisis. Brent crude oil price exceeds $100 per barrel due to Russia's attack on Ukraine.

Finance: Russia's central bank more than doubled its base rate to 20 percent. Russia's Sberbank makes record profit, returns deposits to people in Europe and leaves. Russians try to withdraw US dollars from ATMs after ruble collapse. Moscow Stock Exchange decides to postpone start of trading. Rare coins dominate Aukro auction portal's list of largest auctions in January. Germany has not yet supported Russia's exclusion from SWIFT, gas may be the reason. Deutsche Welle: Death of Petr Kellner sends PPF Group further west. Washington imposes sanctions on Russia's central bank, cuts it off from assets in the US. Rating agencies downgrade Ukraine and Russia's credit ratings. Household deposits in banks continued to grow in January, rising by CZK 28.3 billion. Reuters: Regulators prepare to close the European division of Russian bank VTB. Russia's central bank more than doubled the base interest rate to 20 percent. S&P sharply downgrades Russia's rating to non-investment grade. Fitch and Moody's downgrade Russia's rating by six notches, to speculative grade. Sberbank branches to remain closed on Monday, card transactions suspended. Ruble at record low, Russia bans payments to foreign investors. Fortune: How rich is Putin and why hasn't he been targeted by Western sanctions yet? The West appears to be moving closer to excluding Russia from the SWIFT payment system. Spanish banks expand branch services after complaints about seniors. PayPal suspends services in Russia due to invasion of Ukraine.