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.

  • @[email protected]
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    262 days ago

    On the other hand, Putin doesn’t seem to care much about the suffering of his own people, which is what’s happening here. It’s the people, many of which are innocent, who suffer. Putin and his people are safe and warm with plenty of Euros and Dollars to spend.

    • FenrirIII
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      72 days ago

      Then the people need to do something. They elected Putin. They tolerate Putin. This is their mess and they’ve done nothing to escape it.

      • @[email protected]
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        102 days ago

        That’s the same as saying Americans need to do something about Trump. They elected him and need to deal with the mess. Easier said than done.

        • FenrirIII
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          32 days ago

          Trump isn’t president yet. He potential actions have not had any effects to fight back against. When he does fuck up the country, I genuinely hope people will wake up and do something. If not, I’ll be criticizing those cowards just the same.

          • @[email protected]
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            162 days ago

            We’ve already had four years of Trump. We know exactly who he is what he does and Americans walked right into it with eyes wide open. No excuses.

          • @Xanthobilly
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            42 days ago

            Trump is a symptom of a much bigger problem having to do with income inequality and oligarchs manipulating the media. It’s too late in the US. Once he assumes power, violence will sky rocket as a means of suppressing free speech, and corruption will rule. There won’t be some awakening, because there should have already been one.

      • @Maggoty
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        32 days ago

        They elected Putin in the same way as a school elects the Principal’s kid for student president. The ballots aren’t even counted beyond a performative few for cameras. They just need to record turnout so they can make sure the numbers match up when they announce the results.