Vladimir Putin’s luck may be running out now that the ruble plunged below one cent, the lowest level against the U.S. dollar since the early days of his war in Ukraine.
Vladimir Putin’s luck may be running out now that the ruble plunged below one cent, the lowest level against the U.S. dollar since the early days of his war in Ukraine.
Are they running out of funds to cook the books?
Account deficit for first 6 months is like 30 billion. They entered the war with 300b pile available to them.
They used much of that to prop RUB. Between deficit, inability to raise FX on global markets and war spending they got to be starting to run out and fx markets smell it.
Still a while to go tho. Ukraine still has to spend another year or two grinding Russia down.
But Ukraine is supported by half the planet that happens to be the rich half.
Russias hope is that China will bail them out when shit hits the fan.
Supported by half if you include people in authoritarian countries who don’t have free media or speech.
If you look at free people, almost all of them support Ukraine or are neutral.