Ukraine

8193 readers

1048 users here now

News and discussion related to Ukraine

*Sympathy for enemy combatants in any form is prohibited.

*No content depicting extreme violence or gore.

Donate to support Ukraine's Defense

Donate to support Humanitarian Aid

founded 2 years ago

MODERATORS

[email protected]

181

Russia's central bank raises interest rate to 21% to fight inflation boosted by military spending (apnews.com)

submitted 4 days ago by Buffalox to c/[email protected]

21 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 4 points 3 days ago (1 children)

As long as Russia has foreign oil sales they won't need to print as much money, lowering the chance of inflation rising uncontrollably.

[–] Buffalox 3 points 3 days ago

Absolutely true, the oil is helping Russia a lot. It probably benefit Russia about as much as foreign aid helps Ukraine.
But the oil can only do so much, when the economy is overheating badly.
The problem in Russian economy is not shortage of money, it's lack of production capacity, and lack of workers to increase it. Probably also lack of ability to import goods like they used to. This puts extra pressure on their home production, and helps prevent the Russian economy to keep up with the increased strain from the war.