Moscow Struggling to Hold Up Value of Ruble, Beleaguered by Wartime Sanctions, and Russians Pay the Price
Government spending, along with the willingness of India and China to buy Russia oil, is helping Russia’s economy perform better than many had expected.
Russia’s ruble has fallen a long way in recent months, and the country’s central bank has stepped in to try to halt the slide.
Until now, the government stood aside as the declining ruble helped its budget. But a weaker currency also poses the threat of higher prices for everyday people in Russia — and the government has finally moved to halt the drop.
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