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.

  • @MaggotyEnglish
    2•2 days ago

    No it’s an actual theory that posits all the other reasons are merely justifications for economic reasons.

    It falls apart pretty badly if you look at World War 1. But there’s also been a ton of wars that fit the theory, which is why it exists.