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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: French 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. Japan will join sanctions against the Russian central bank. Companies are closing operations in Ukraine and preparing for sanctions against Russia. Analysts: The conflict in Ukraine will initially affect mainly energy and food. Despite its neutrality, Switzerland will impose sanctions on Russia following the EU model. Czech household debts to banks rose to 2.060 trillion CZK in January. Volkswagen, Renault and tire manufacturer Nokian suspend production. Ukraine imposes a state of emergency, the West imposes sanctions; Russia withdraws diplomats. Australia, New Zealand and Japan impose new sanctions against Russia. The number of counterfeit banknotes and coins seized in the Czech Republic increased significantly last year to 6,836. The French company 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. Sentix: Investors' confidence in the eurozone economy has fallen due to the war in Ukraine. Czech entrepreneurs and companies are also offering financial assistance due to the situation in Ukraine. Analysts: Sanctions will hit Russia hard, but it will not destabilize the banking sector in the Czech Republic. After the CNB's interventions, the koruna began to strengthen against the euro and the dollar. The CNB began to intervene in the foreign exchange market to prevent the weakening of the koruna. Analysis: Escalation of the conflict in Ukraine will lead to increased inflation in the Czech Republic.

Stock exchanges: Oil and gold prices continue to rise, the world is negotiating a ban on oil imports from Russia. The price of gold is near a nine-month high due to the crisis in Ukraine. The price of Brent crude oil has exceeded $100 per barrel due to the Russian attack on Ukraine. Analysts: Gold and silver rose by five percent, oil and gas by tens of percent.. The price of gold is at a more than one-year high of $1,940 after the attack on Ukraine. The wholesale price of gas for the European market rose to 345 euros per MWh.

Finance: Fitch and Moody's have lowered Russia's rating by six notches, to speculative grade. ECB: The European division of Russia's Sberbank is at risk of bankruptcy due to the outflow of deposits. Russians are trying to withdraw US dollars from ATMs after the ruble's collapse. 150 protesters in front of the German embassy demanded that Russia be cut off from SWIFT. PayPal suspends its services in Russia due to the invasion of Ukraine. Experts say Sberbank CZ clients should open an account at another bank. Mastercard has blocked several financial institutions as part of anti-Russian sanctions. The World Bank will release one billion dollars to help Afghanistan. The ruble is at a record low, Russia prohibits payments to foreign investors. European and American banks are preparing for the impact of sanctions against Russia. The Russian Central Bank has more than doubled the base interest rate to 20 percent. Russian banks are turning to the Chinese system due to the departure of Visa and Mastercard. Household deposits in banks continued to grow in January, increasing by CZK 28.3 billion. The World Bank and the IMF plan to provide Ukraine with three billion dollars. S&P has significantly worsened the credit rating of Belarus. Sberbank branches will remain closed on Monday, card transactions will remain suspended. The Russian Central Bank has more than doubled the base interest rate to 20 percent. The Moscow Stock Exchange has decided to postpone the start of trading. Rare coins dominated the ranking of the largest auctions on the auction portal Aukro in January. Rating agencies are lowering the credit ratings of both Ukraine and Russia.