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.
They elected Putin in the same way as a school elects the Principal’s kid for student president. The ballots aren’t even counted beyond a performative few for cameras. They just need to record turnout so they can make sure the numbers match up when they announce the results.