Developers and DIY retailers complained about disruptions in the supply of building materials amid a sharp rise in the dollar. This was reported by Kommersant with reference to market participants on Monday, February 28.
The interlocutors of the newspaper said that the Technonikol company, the United Metallurgical Company (OMK), Metallservice and Magnitogorsk Iron and Steel Works (MMK) manufacturers of building materials massively suspend the shipment of their products.
The FSK Group, a development construction company in Russia, said that power engineering companies ABB (Switzerland) and Schneider Electric (France) sent notices of difficulties with the supply of materials and equipment.
The Acons Group said that European suppliers of electronics for construction have temporarily suspended cooperation. Granel Group of Companies was notified of the temporary suspension of shipments, including under existing contracts.
The founder of the Vseinstrumenty.ru DIY network, Viktor Kuznetsov, told the publication that some of the counterparties had suspended shipments and were recalculating prices.
It is noted that some manufacturers have warned suppliers of building materials about the rise in price of building materials by 20-30%. Hussein Pliev, General Director of Smart Engineers Group of Companies, predicted a 30% increase in prices for such goods.
Synergy, an intersectoral association of self-regulatory organizations in the field of construction and design, explained that many suppliers of construction products have suspended invoicing until March 1, as they are going to raise prices.
At the auction on Monday, the dollar exchange rate in Russian banks exceeded 100 rubles per unit. The euro reached the mark of 131.07 rubles, breaking the December 2014 record. The Moscow and St. Petersburg Stock Exchanges closed trading on all markets. Later, the ruble began to recover, and now the dollar is 97 rubles, and the euro is 108.
At the same time, the head of the Bank of Russia, Elvira Nabiullina, said that the regulator had suspended foreign exchange interventions to stabilize the situation in the country’s financial market. The Central Bank began interventions in the foreign exchange market on February 25 to stabilize the situation in the financial market.
On the morning of February 24, Russian President Vladimir Putin announced the start of an operation to protect the civilian population of Donbass. After that, Ukrainian President Volodymyr Zelensky accused Moscow of hitting the country’s military infrastructure and introduced martial law. Then the Ukrainian leader severed diplomatic relations with the Russian Federation. Later, Western countries introduced new packages of anti-Russian sanctions.
On February 21, Putin signed decrees recognizing the independence of the DNR and LNR. He also signed agreements on friendship, cooperation and mutual assistance with the republics. The treaties were ratified the next day.
The situation in Donbass escalated on February 17, 2022. In the Donetsk and Lugansk People’s Republics, heavy shelling by Ukrainian security forces was reported, including from heavy weapons. The republics announced a general mobilization and evacuation of civilians to the territory of Russia.
For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
