this post was submitted on 30 Nov 2024
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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.

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[–] [email protected] 22 points 4 days ago (1 children)

Good news then!

They've had their version of Hitler for years!

[–] FlyingSquid 19 points 4 days ago (1 children)
[–] [email protected] 46 points 4 days ago (1 children)

That's the Russian National Motto!

[–] [email protected] 0 points 4 days ago (2 children)

That's the [any country] National Motto!

...i suppose

[–] Paragone 2 points 1 day ago

I've read that Russian history's refrain literally is..

".. and then it got worse."

I've read variants of that from many sources.

Russia's not had good government in .. millenia, apparently.

[–] Maggoty 3 points 3 days ago* (last edited 3 days ago)

It could be any country but it's been a running joke about Russia, specifically, since 1918.