"Russian Officials Clash Over Ruble's Slump as Putin's Currency Rescue Plan Risks Backfiring"

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Source: Business Insider
"Russian Officials Clash Over Ruble's Slump as Putin's Currency Rescue Plan Risks Backfiring"
Photo: Business Insider
TL;DR Summary

Top officials in Russia, including President Putin's chief economic adviser and the central bank governor, are publicly blaming each other for the slump in the ruble. The ruble has fallen about 20% against the US dollar this year, prompting criticism of the central bank's policies and its impact on the economy. The central bank governor, Elvira Nabiullina, attributes the weak ruble to changing trade flows and trade restrictions due to sanctions. This public discord highlights the challenges faced by Putin's administration amid the ongoing conflict in Ukraine.

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