Russia’s Financial Meltdown

Picture of informed

Curated by informed

Unprecedented sanctions after Russia’s invasion of Ukraine have sent shock waves through financial markets. How will Moscow react?

  • The EU, the US and the UK have set in motion a historic wave of economic sanctions against Russia. Russian banks and large companies have been cut off from global international markets.
  • The measures, introduced after Russia’s invasion of Ukraine, have brought financial markets in Russia to their knees. The Ruble experienced its biggest single-day fall on record.
  • The Central Bank of Russia reacted with a range of draconian measures. Benchmark interest rates were raised to 20% from 9,5%. The stock market remained closed due to fear of turmoil.
  • Ordinary Russians are struggling to access their savings since a run on cash machines had already begun. Many people tried to convert their rubles into foreign currency or luxury goods.
  • Economists are debating the possible implications for supply chains and Western markets. Russia is the Europe’s biggest vendor of oil and gas and plays a substantial role in food markets.
  • Large Western companies are already leaving the Russian market and selling their assets. This might lead to huge losses and a reorientation in global markets.
Financial Times
+ 2 more

3 articles on this topic


The West declares economic war on Russia

9 min read
The Conversation

US-EU sanctions will pummel the Russian economy – two experts explain why they are likely to stick and sting

5 min read