Earlier at the brick summit it made me smile because honestly he is speaking up from a position of strength and our own currency but from the profound weakness of the rouble against the dollar. i think thatis rouble against the dollar. i think that is a cautionary tale for the other leaders as they look to the thought of the dollarisation. it is because the dollar is such a strong and predictable currency that it is the world reserve currency and is used for trade and economic purposes because it is predictable and provides predictability and value across international markets, including for countries that are rather less advantage in the economic trading. that s one point. the other point is it is clear that sanctions against russia are working. the reason the rouble is so weak is because of pressure on imports. the russians are forced to imports. the russians are forced to import so much and they have to use hard currency to do that. of course
Essentially that means we have the job of posting them all out ourselves but there s no film charges. all money goes to charity. google it and you will find it eminently. google it and you will find it eminently- google it and you will find it eminentl . ., ~ , . ., eminently. thank you very much for cominu on eminently. thank you very much for coming on the eminently. thank you very much for coming on the programme. - now it s time for the panel. we are going to start with rose who has been looking at a story which caught my eye today. the problems for the russian rouble. for the russian rouble. absolutely. the russian for the russian rouble. absolutely. the russian rouble for the russian rouble. absolutely. the russian rouble in for the russian rouble. absolutely. the russian rouble in the - for the russian rouble. absolutely. the russian rouble in the past - for the russian rouble. absolutely. | the russian rouble in the past week has taken a real grubbing at one point it
Deliver weapons. yes, this is, i think included in exactly this decision. . think included in exactly this decision. , ., ., decision. the views there from a german green decision. the views there from a german green mvp. we can now bring you the latest our correspondentjenny hill on how people are responding the sanctions. we are seeing a bit of that already, of course. the rouble fell to a record low and we have just learnt that the stock exchange isn t going to open today here in the central bank is more than doubled its key interest rates. nevertheless, the east kremlin spokesman has just said, as he said before, russia was expecting the sanctions and it has
And hearfrom our correspondent therejenny hill. some lines out of the kremlin talking about the impact of sanctions, what is the latest? yes. sanctions, what is the latest? yes, i think first sanctions, what is the latest? yes, i think first and sanctions, what is the latest? yes, i think first and for sanctions, what is the latest? yes, i think first and for most sanctions, what is the latest? yes, i think first and for most the - i think first and for most the kremlin does not want russian people to think these sanctions are going to think these sanctions are going to bite although international experts are all saying they will. and deeply too. we are seeing some of that this morning, the rouble fell to a record low, we have learned the stock exchange is not going to open today here. the central bank has more than doubled its key interest rates. nevertheless the kremlin spokesman hasjust its key interest rates. nevertheless the kremlin spokesman has just said, as you said bef
From their underground shelters. in other developments, russia has been forced to double its main interest rate to 20%, after the rouble plummeted against the us dollar. the bank of russia ordered companies to sell foreign earnings to try to shore up the rouble, amid turmoil on its markets. the kremlin has blamed comments by the british foreign secretary, liz truss, for the decision to place russia s nuclear forces on special alert . and the united nations general assembly is to hold an emergency special session later today, involving all 193 member countries. more on all that to come, but first, tim muffett on the main developments in the past few hours. tear following a relatively quiet