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.

  • FenrirIII@lemmy.world
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    3 days ago

    Then the people need to do something. They elected Putin. They tolerate Putin. This is their mess and they’ve done nothing to escape it.

    • Paragone@lemmy.world
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      11 hours ago

      They “elected” Putin.

      There is a difference…

      You know how dictatorship’s “elections” work, don’t you?

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    • GiddyGap@lemm.ee
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      3 days ago

      That’s the same as saying Americans need to do something about Trump. They elected him and need to deal with the mess. Easier said than done.

      • FenrirIII@lemmy.world
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        3 days ago

        Trump isn’t president yet. He potential actions have not had any effects to fight back against. When he does fuck up the country, I genuinely hope people will wake up and do something. If not, I’ll be criticizing those cowards just the same.

        • GiddyGap@lemm.ee
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          3 days ago

          We’ve already had four years of Trump. We know exactly who he is what he does and Americans walked right into it with eyes wide open. No excuses.

        • Xanthobilly@lemmy.world
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          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.world
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            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!

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    • Maggoty@lemmy.world
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      3 days ago

      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.