Ruble Now A Penny

[Elderberry]

Lawrence Person's BattleSwarm Blog 8/14/2023

When Russia launched its illegal war of territorial aggression against Ukraine in February of 2022, many observers thought western financial sanctions would quickly crash the Russian economy. When Russia was cut out of SWIFT, the Ruble plunged to below a penny against the dollar, but quickly recovered, at least a bit.

Due to various reasons (gas and oil sales, gold transfers, and the many loopholes EU countries have made for their sanctions), Russia’s economy hasn’t collapsed as quickly as many expected, or hoped.

But just today, the ruble finally slipped back below the penny-parity line again.

Russia’s central bank called an extraordinary meeting Tuesday after the ruble crashed through the level of 100 to the dollar for the first time since March of last year as Russia’s war in Ukraine drags on and international sanctions hit trade.

More: https://www.battleswarmblog.com/?p=55618

[Kamaji]

Russia has also been burning through its foreign currency reserves trying to maintain the ruble; those will eventually run out.

[PeteS in CA]

  Iranian drones are more expensive.

  Chinese weapons are more expensive.

  Black- and Grey- market tech is more expensive.

How soon before Putin has to raid and recycle T-34s from museums? A year?