Russia's Ruble Crisis Threatens War Effort and Economic Stability
TL;DR
The U.S. Treasury Department has imposed new sanctions on over 50 Russian banks, including Gazprombank, which had previously been exempt to allow European countries to pay for Russian gas. These sanctions, effective December 20th, will force European buyers to find alternative payment methods, potentially complicating Russia's financial situation and impacting its war effort.
- Russia’s plunging currency spells trouble for its war effort The Economist
- Russia’s ruble is still worth less than a penny, and the Kremlin’s piggy bank for propping it up is running low Yahoo Finance
- The ruble’s in a slump. For the Kremlin, that’s a two-edged sword The Associated Press
- What Collapsing Russian Ruble Means for Ukraine War Newsweek
- Breakingviews - Currency drop worsens Moscow’s stagflation fears Reuters
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