As the weeks pass, more and more evidence points to the fact that the European Union will enact an embargo on Russian oil (the EU already proposed the boycott this week, but the details remain unclear for now). Numerous economists, journalists, and politicians have called for an embargo recently. Lately, Robert Habeck, the German economic minister, stated that
Let's wait which CB will blink first and how. I'm observing currency valve proactively hedging cash position having EUR as primary CCY to hedge.