(Don't copy the answer)

Question 7: Western countries have responded to the invasion of Ukraine with a plethora of sanctions that seek to completely isolate Russia from the western- dominated international financial and monetary system. The Russian ruble has lost more than 64% to the dollar year-to-date to reach a record low, in large part due to surprising severity of western sanctions imposed on Russia. one of these sanctions is freezing Russia's foreign assets. On February 26th this year, jurisdictions issuing key internationally used currencies (especially the US and the EU but also the UK, Canada, Japan, Australia, and Switzerland) effectively froze more than half of the Central Bank of the Russian Federation's (CBRF's) assets aimed to incapacitate use of its international reserves. Answer the following questions: (1) to analyze the monetary approach to exchange rate; (2) why we say that The nation has no control over its money supply and monetary policy at all under a fixed exchange rate system in the long run; (3) to explain the reasons that the freezing of Russia's foreign assets by the above countries made Russian ruble seriously depreciate according to the monetary approach