The Russian ruble sank to an historic low in opposition to the U.S. greenback on Monday, with analysts saying it was on the verge of a complete collapse, forcing the central financial institution to step in, doubling its rate of interest to twenty per cent.
Russia’s financial system is in a tailspin having been reduce off from the SWIFT international monetary market, tumbling right into a recession.
As Anne Gaviola studies, the newest spherical of harsh sanctions by the worldwide group is inflicting important harm to Russia’s financial system, however some specialists say they’re nonetheless not as dangerous as they could possibly be.
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