It looks like it's business as usual and war doesn't really have any impact on global economy at the moment. Prices were going up before Feb anyway.
So what's going on?
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It looks like it's business as usual and war doesn't really have any impact on global economy at the moment. Prices were going up before Feb anyway.
So what's going on?
Obviously that won't work, long term.
Now they are finding themselves fighting a nation with a direct IV line from the US defense budget (similar to Israel) and that's not a winning position to be in given that the US alone is 10x defense spend - not even counting UK, the baltic states, etc.
The rate may look similar, but it is against a backdrop of a significantly different and far worse economic environment, not least the use of reserves to prop the currency will have depleted their reserves.
obviously this can’t go in forever and this is just a crutch
I remember hearing on France 24 (from Anastasiya Shapochkina iirc) when the sanctions were just being introduced that the sanctions would effectively make it cheaper for Russia to finance the war as most their monetary assets are in foreign currencies while most of their expenses are in rubel.