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.

  • Xanthobilly@lemmy.worldEnglish
    4·
    3 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.

    • Paragone@lemmy.worldEnglish
      11·
      11 hours ago

      True, except that you’re making the same mistake I’ve been making, since Trump 1st ran for President, years ago:

      getting the speed wrong…

      It’s damn glacial, compared with individual-life…

      He’ll keep escalating until about 2031, when finally he can do ANYthing he wants, human-sacrifice included ( as the Aztecs, the Maya, & the Toltecs did, before him, in the Americas… just different in style )

      Once 2032 rolls around, he should be able to go total-Confederate-pogrom against all who were civil-rights oriented, in the US…

      & that’ll take him another 7-8y to completely-destroy the country…

      Maybe 100-million will survive to 2040?

      it looks to me, now, like that’s the speed & the scale…

      Don’t take my word for anything, though: wait & see!

      Empiricism!

      _ /\ _