The Ukraine/Russia Conflict is still unfolding. On March 9, 2022, the US and the European Union announced sanctions against Russia effectively insulating its financial payment system from the rest of the world.

Most of Russian's trade and financial transactions are cleared via a global system called SWIFT that essentially is denominated in US dollars. Using your critical thinking and concepts you learned in this class can you pls provide an opinion on the impact of sanctions on the dollar value (is it appreciating or depreciating and why or why not?).