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The time to save your money is now

Financial turmoil in the markets. And what should Belarusians do?

"If there is a war tomorrow" — with these words my appeal began to Belarusians literally four days ago.

What to do? Go and withdraw from ATMs, withdraw ALL your money from accounts and deposits — that was the answer.

And on 21 February, the President of Russia recognized the so-called Donetsk and Lugansk National’s Republics. And he ordered that the armed forces of the Russian Federation "carry out peacekeeping functions" in these self-proclaimed territorial entities.

The mere fact of recognition is a sufficient reason for serious retaliatory sanctions from the West. And the West has stated this clearly. And any military aggression that may follow will trigger sanctions on a never-before-seen scale.

But even now, even before the sanctions, the shares of Russian banks and companies on the Moscow Exchange are rapidly flying down. And the exchange rates are up.

Do I need to tell you how strongly the economy of Belarus is connected with the Russian one and how directly the exchange rates in Belarus depend on the exchange rates in Moscow? I’m sure not.

Sanctions against Russia are already inevitable. And they will definitely affect Belarus, the country’s financial system.

Therefore, in the current situation, I will simply recommend what should be done right now.

You need to go and take all your money from banks — both from cards and from deposits, if you have them. And exchange currency.

Time to act. ATM — exchanger — bank!


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