against the dollar to record low of today. average russians are lining up that banks trying to withdraw whatever money they can. all of this is a very important reminder that vladimir putin promotes its nation as a superpower. russia has super new color power, but not economic power. even before the sanctions, it was just the 11th largest economy in the world. that is like the size of the state of new york. and not the economy is in free fall. with us tonight to follow the money, julian tech, she is the chair of the editorial of war and editor at large for the financial times. and david milbank, the president and ceo of the international rescue committee. and the foreign former secretary for the uk. jillian, there have already been a lot of tough sanctions on russia over the weekend. but this latest one, going after their central bank, i mean, that is like taking away their safety net. absolutely. i mean, this is really the equivalent of financial shock
went to school, and now starting their professional life. from the very beginning of, israel let him or putin begin flush here in russia. and he has institutions that he had previously turned for the and, then as it always, happens in the broaden history of, russia domestic progression and external aggression always go hand in hand. and then of course, mr. putin s attempt what we are seeing now is that this military aggression is military pride. the putin, rasheem not the russian people, but the putin regime is an leaching against ukraine in a long series of military adventures that mr. putin has undertaken. but you know what, it may well turned out to be his last. because i cannot say much as a politician but also as a historian, russian and soviet rulers do not have a really good track record of so-called, small victorious wars.
lawyers are lawyers in this case well under but was interesting about the in it is because ukrainian people is that of that that it s because of them that these these discussions discussions are even in play. even most military happen. most analysts thought military analysts thought that that russia would russia would achieve their military objective within achieve its days. that s not the military objective in days. case. now this is a different that is not the case. landscape. now it s a different landscape. certainly, certainly, this economic war is this economic war is meaningful meaningful, but we are on the but we are on brink and a brink were sunny in the middle of certainly on the brink of a cold war. a cold war. might be on the brink we might very well of a hot war be on the brink of a half. this if this is in play very carefully. doesn t play very and i think part of the carefully. weight we need a sigh thinking about what do we do since we re not going to put boots on th
to all to use the financial tech of technology. it s significant, because it really means that russia can t get access in dollars in euros as easy going forward. this is having immediate impact on citizens in a sense that people going on the metro in moscow, today, found that they suddenly could not use apple pay systems or their automated system. people are trying to use credit cards, as you heard earlier in the, show are suddenly being told that they cannot use it in moscow. and of course, we are seeing people queuing up outside of banks trying to get that money out. and that is the rising fear of penguins. we have already had one of the european branches of one of the biggest banks being essentially told by the european central bank that they are essentially, you know, going to collapse. now, it s important to get this perspective. because russia s central bank has prepared, in many ways, to make itself more resilient by
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