From the events that occurred in recent weeks between Ukraine and Russia, several variants around both countries have shaken, and the economy has been one of them.
From the military advance of the Russian country towards the Ukrainian nation, it brought with it the collapse of 30% of the ruble, Russian currency, after the sanctions of the European Union and the United States by prohibiting transactions with the Central Bank of Russia.
This situation not only had an impact on the ruble but also on the euro, a currency that fell below 1.11 dollars due to the intensification of the conflict between Ukraine and Russia, which harms the economy of the European continent.
Although not all European nations govern their economy based on the euro, this currency is predominant in the old continent. The European Central Bank established the reference exchange rate for the euro at 1.1106 dollars. That situation indicates a collapse of approximately 20% in the last 20 months ago.
Despite the strong rumors that the end of this conflict could be a nuclear war, and in the face of the latent threats from Russia to that no country intervenes in this discussion. The economy has been reeling to maintain its balance and not collapse the other neighboring countries in a domino effect. However, it is almost impossible to prevent an economic crash and upheaval through reforms while this conflict is going on.
The events and guidelines by Putin have caused tensions within the economic world; However, the European Union has indicated that this challenge "will be won by Europe."
Meanwhile, the euro as a currency continues to suffer from a progressive devaluation and is trying to stay afloat while the conflict between the two European nations unfolds.
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