Ep. 187 - Russia’s Economy Today
The Russian economy seemed to show remarkable resilience in the face of waves of sanctions that followed the invasion of Ukraine. But recently the Russian ruble made headline news after its exchange rate collapsed in mid-August to levels unseen since the Russian invasion of Ukraine. After the ruble exchange rate crossed a threshold important to Russian consumers, the Bank of Russia took steps to shore up the currency.
Is the impact of sanctions on Russia's economy finally being felt after the Ukraine invasion? And how much of an impact of the Ukraine war on the Russian economy would bring Russia to the negotiating table?
We discuss what has supported Russia's economy during wartime, shifts in trade routes, support for dedollarization, and our near-term outlook for the economy and an interest rate hike.
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