Russia in panic as US sanctions trigger ruble collapse – DW – 11/28/2024
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Russia's currency has fallen sharply as US sanctions bite, putting further pressure on the country's already strained financial system.

Summary

Russia’s ruble has plunged to its lowest level since March 2022 following new U.S. sanctions on Gazprombank, a key platform for energy payments.

The ruble’s slide, driven by sanctions, falling oil prices, and soaring defense spending, has intensified inflation and strained the war economy.

While the Kremlin benefits from a weaker ruble by converting foreign revenues into more domestic currency, experts warn of overheating risks and financial instability.

The Russian central bank is scrambling for solutions, but long-term economic pressures and declining oil revenues pose significant challenges.

  • Ciderpunk@lemmy.worldEnglish
    1412·
    13 days ago

    Anti-imperialism is when you invade your neighbor and steal their land for no reason and also obliterate their language and culture from the regions you stole from them.

    • Darorad@lemmy.worldEnglish
      105·
      13 days ago

      Don’t forget kidnapping their children and ‘adopting’ them into Russian families

    • AmidFuror@fedia.io
      433·
      13 days ago

      Remember when Russia gave up its empire when the last tsar was overthrown and certainly as the first Communist state didn’t occupy its neighbors for decades? I don’t either.