The emergency interest rate increase in Russia cannot hide the dilemma at the heart of the Russian economy: how to fund the military while not undermining the national currency and overheating the economy with corrosive and politically embarrassing inflation.
Sanctions work like slow poison as Russia earns less from oil, spends more on war naharnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naharnet.com Daily Mail and Mail on Sunday newspapers.
The Russian ruble’s wobble in value has exposed a crack in President Vladimir Putin’s fortress economy, a vulnerability quickly plastered over by the Kremlin’s economic team in a move that allowed the currency to regain its footing, at least for now. Yet the patch an emergency interest rate increase cannot hide the dilemma […]