Russia in panic as US sanctions trigger ruble collapse – DW – 11/28/2024
www.dw.com
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.

      • barsoap@lemm.eeEnglish
        5·
        21 days ago

        DW is not capital-owned it’s literally a state broadcaster. Whatever foreign policy agenda you accuse it of you accuse Germany of as their editorial stance is precisely that of the foreign ministry. Also they’re highly factual, like it or not.

      • LibertyLizard@slrpnk.netEnglish
        1·
        21 days ago

        I’m unfamiliar with this outlet, so I’d like to learn more. But your inability to provide supporting reasoning or evidence suggests to me that your claims should not be taken seriously.