Kremlin spokesman Dmitry Peskov said on February 28 that President Vladimir Putin would meet with several officials during the day, including the finance minister and Bank of Russia governor.
Posted on 02/28/2022 4:09:06 AM PST by marcusmaximus
The Kremlin says Russia's economic reality has changed but sees no reason to doubt the effectiveness and reliability of the central bank, which hiked interest rates to 20 percent as it sought to shield the economy from unprecedented Western sanctions.
Kremlin spokesman Dmitry Peskov said on February 28 that President Vladimir Putin would meet with several officials during the day, including the finance minister and Bank of Russia governor.
He said Russia had a plan to react to sanctions and was now carrying it out.
His comments come as the national currency plummeted by almost a quarter to a record low after the Group of Seven (G7) industrialized countries imposed harsh financial sanctions to punish President Vladimir Putin for his invasion of Ukraine.
The ruble fell to 114 to the U.S. dollar on February 28 from 83.7 at the end of last week, according to Bloomberg data.
Russia's central bank on February 28 sharply raised its key rate from 9.5 percent to an unprecedented 20 percent in a desperate attempt to shore up the plummeting ruble.
Commercial banks were offering much lower rates online, between 120 and 140 rubles to the dollar, according to Banki.ru.
(Excerpt) Read more at rferl.org ...
Kremlin spokesman Dmitry Peskov said on February 28 that President Vladimir Putin would meet with several officials during the day, including the finance minister and Bank of Russia governor.
Hegemony has its price.
May Putin reap the whirlwind of anger.
Only a fool thinks we are not going to feel the impacts of this here at home. Biden and Kamala already openly said so. They have been yammering on about the great reset and build back better.... so it wouldn’t bother them a bit to collapse our economy in the process. We are going to get caught up in this financial whirlwind somehow.
Where’s China stand to profit from all this ?
Well the resident slurper geniuses here, said it was just exercises.
All the moron had to do was end the exercises and go back to their bases.
Russia already has a poor economy and now Putin makes the average Russian pay the price.
Yep.. perhaps the Russian populace will rise up against him.
We are caught up in the financial whirlwind now. That’s why Ukraine and Russia need to negotiate a deal and end this and Russia needs to get the hell out of Ukraine.
“(Ruble now worth less than a U.S. penny)”
Of course that is totally meaningless without considering the relative purchasing power.
The Japanese Yen is also worth less than a penny. (8/10th of one). That tell one nothing as to whether it is strong or weak.
Since China has a peg to the dollar, I would think the fall of the ruble does indeed affect them in their trade with China, making stuff they buy from China more expensive.
I guess that depends whether those contracts for oil and gas between China and Russia are denominated in rubles or RMB.
And yet FR is filled with Putin stooges.
They picked the wrong country to invade.
Here are some good Russian soldiers (graphic). This is what a good Soviet looks like.
https://mobile.twitter.com/Jerry65974931/status/1497243289208172551
YOu see how Puttie pooh had war protesters in his country immediately arrested?
He is not above making examples of many protesters by killing them in the streets.
Yep... and having political opponents poisoned. That seems to be lost on his acolytes here.
The Putin Pal brigade will dismiss that as “propaganda.”
How did that work out for Czar Nicky?
In the old days of the USSR the ruble was worthless anyway, always has been.. No secret there.
As our economy tanks, so does china’s. If there is no demand, there’s no reason to produce. It’s that simple.
Sadly our government with biden, obamma and Clinton’s are with Putin and Xi..they are mass murderers, releasing covid and false vaccines all the time knowing real
Treatments that would save lives..
That was the opening Salvo.
This is not putin by himself, Xi, and Biden /cronies are on His side..they have to be
Or get hung on the white lawn as mass murdering traitors..
It appears the world leaders have already split up the world, Xi gets Asia, putin gets Europe, usa traitor crime families get americas..it appears
Russia knew about the sanctions,buden and Xi are supporting him..
It appears Russia will nuke someone
In Europe, at which time, all will stand down ..done deal..
Now do the Jan 6 protesters here in the US...
Were are the Russian soldiers? That looks like Ukraine civilians.
“The Putin Pal brigade will dismiss that as “propaganda.””
No conservatives in that bunch. Just a bunch of LiberalTarians who have no allegiance to America,but love Pooty Poot.
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