How Putin tried — and failed — to protect the ruble from sanctions

That money was essential to Russia’s efforts to withstand escalating sanctions. Without it, Russia’s central bank cannot step in to protect the value of the ruble, weather trade disruptions or stabilize the country’s overall economy.Russia has lived with economic sanctions since 2014, which limited trade and access to U.S. and European capital. Since then, the government has increased its reserves from $430 billion in May 2014 to $640 billion, financed largely through sales of oil and gas.

Those reserves are only as good as Russia’s access to them. Although Russia owns its reserves, the money is held in banks in other countries. Since 2014, those reserves have shifted away from the West.Until last week, there was no reason to believe Russia would ever lose access to its reserves across the United States, Europe and Japan.

“While other countries like Afghanistan, Iran, and Libya have had their central bank assets seized before, the scale and scope of the sanctions imposed on the Russian central bank are unprecedented,” said David Beckworth, senior researcher at the Mercatus Center at George Mason University.economic crisis and threatens a nosedive for its currency.The ruble, like all currencies, depends on people trusting that it will maintain its value over time.

Russian Billionaires right now

McFaul да вы не понимаете! это бы в любом случае было!!!1:)

2015-U.S. President Barack Obama in his State of the Union Address on Tuesday said Western sanctions had left Russia isolated and its economy 'in tatters.'

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