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VITech status 02.28.2022

Feb 28, 2022

1 minutes read

Dear Customers,

Ukraine has been successfully fighting for its freedom for the fifth day in a row. No fear, no illusions, no confusion. Only anger and dedication to the central goal – protect our land.

Civilian districts of Kharkiv and Chernihiv were under BM-21 “Grad” attack today. Dozens of civilians are dead, and hundreds are injured. This is a war crime. Well-documented crime. Ukrainian Army heroically protects civilians and fights with the aggressor by all available means.

However, we are not alone in this fight – here are just a few consequences for Russia:

  • EU and US imposed SWIFT ban for the set of Russian banks (including Central Bank)
  • EU and Canada closed skies for Russian planes
  • Ruble (Russian national currency) collapsed in just one night (-40% officially and -80% on the black currency market)
  • The Bank Rate of the Russian Central Bank is now 20%
  • London-traded Russian companies plunge as much as 50-70% on tightening sanctions

All this (and many more other effects of the implicated EU and US sanctions) turns the life of regular Russian citizens into a nightmare. They now feel all the consequences of the WAR on their wallets and daily comfort (now turned into total discomfort).

Here, in the west of Ukraine, VITech is preparing some of our office spaces in Lviv and Ivano-Frankivsk to accommodate refugees. None of the company’s employees have been injured so far – all alive and safe.

Still, there are no issues with the Internet or Power Supply in Lviv and Ivano-Frankivsk; thus, the VITech team continues to provide services to our customers.

We will keep you updated on the further situation development.

Glory to Ukraine!
VITech management team.


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