english.jpnn.com, MOSCOW - Russia is now facing extreme economic challenges following sanctions by a number of countries.
Several ATMs ran out of cash in Moscow. People wait in long lines to withdraw money in St. Petersburg.
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Raiffeisen bank exchanged dollars for 150 rubles, even though the price was still 83 rubles at the close of the market last Friday.
Conditions in Russia are the opposite of what happened in Ukraine.
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The Ukrainian government has announced that macro-finance stability and the state budget are still safe.
"All the needs of the state are met. Nothing threatens macro-financial stability and the budget," Ukrainian Finance Minister Serhiy Marchenko wrote, as reported by Ukrainian national news agency Interfax.com, Monday (28/2).
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According to Marchenko, all agencies under his control - the State Tax and Customs Service, the State Treasury, and the State Audit Service - are now operating seven days a week, without holidays.
"I assure you that all citizens will receive pensions, salaries, and social benefits," he said.
As reported, Western countries, the European Union, and even Japan and Taiwan have imposed economic sanctions against Russia.
This unprecedented tsunami of sanctions has forced Putin to pay a heavy price.
The country's stocks and currency slumped last week after Putin's earlier decision to order troops into eastern Ukraine.
On Thursday, Russia's main MOEX index closed down 33 percent, while the ruble slumped to a record low, down 7 percent against the US dollar.
One of the latest sanctions for Russia is the removal from the international interbank payment system (SWIFT). This step has made the country's banking system isolated from the international system.
SWIFT is used by most international payment and remittance transactions. (dil/mcr20/jpnn)
This news has been broadcast on JPNN.com with the title: Ekonomi Rusia Memburuk, Kondisi Ukraina Berbanding Terbalik