{"id":130896,"date":"2024-11-28T03:49:53","date_gmt":"2024-11-27T20:49:53","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=130896"},"modified":"2024-11-28T03:49:53","modified_gmt":"2024-11-27T20:49:53","slug":"ruble-tumbles-as-russias-war-economy-comes-under-increasing-strain-politico","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=130896","title":{"rendered":"Ruble tumbles as Russia\u2019s war economy comes under increasing strain \u2013 POLITICO"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p>The ruble has been under steady pressure all summer, as the price of oil \u2014 Russia\u2019s most important export, despite Western sanctions \u2014 has fallen due to weak Chinese and European demand and rapidly growing supply from the U.S., Brazil and Guyana. Brent crude prices have fallen nearly 4 percent this week alone on relief at the ceasefire agreed to by Israel and Hezbollah. <\/p>\n<p>That pressure intensified after the U.S. imposed a new round of sanctions on Gazprombank, which until then had been allowed to process payments for what remains of Russia\u2019s gas export business to Europe. The new package also targeted 50 internationally connected Russian banks, more than 40 Russian securities registrars, and 15 Russian finance officials.\u00a0<\/p>\n<p>\u201cThe sanctions packages imposed are having their negative effects, felt by Russians mainly in the form of high inflation,\u201d said Grzegorz Drozdz, market analyst at Conotoxia.<\/p>\n<p>The ruble fell as far as 114.75 to the U.S. dollar, according to data from <a href=\"https:\/\/www.investing.com\/currencies\/usd-rub\" target=\"_blank\" rel=\"noopener\">Investing.com<\/a>, a level unseen since March 2022, just after Russia started its war in Ukraine. By late trading in Moscow it had recovered to 113.15, a drop of over 7 percent on the day.<\/p>\n<h3 class=\"wp-block-heading\">Angry oligarchs<\/h3>\n<p>The central bank\u2019s tight monetary policy has drawn increasing criticism from the country\u2019s leading industrialists, such as metals baron Oleg Deripaska and Sergey Chemezov, the influential head of defense conglomerate Rostech. Chemezov\u2019s organization is responsible for making much of the equipment needed to fight the war in Ukraine.<\/p>\n<p>\u201cIt\u2019s as if the medicine is more harmful than the disease,\u201d Severstal chairman Alexey Mordashov was quoted by RBC as telling a conference in St. Petersburg on Wednesday.<\/p>\n<p>\u201cWe need serious discussions on this topic,\u201d Mordashov said. \u201cThis is a situation probably without precedent in modern world history, when the central bank rate is 2.5 times higher than inflation, and it still doesn\u2019t slow down.\u201d  <\/p>\n<p>The CBR raised interest rates to 21 percent at its last meeting, and Governor Elvira Nabiullina threatened another increase at its next meeting. So far this year the bank has raised its policy rate by 500 basis points, but has been unable to stop the ruble losing nearly a quarter of its value against the dollar.<\/p>\n<\/div>\n<p><script>\n\t\tpl_facebook_pixel_args = [];\n\t\tpl_facebook_pixel_args.userAgent = navigator.userAgent;\n\t\tpl_facebook_pixel_args.language = navigator.language;\n\t\tif ( document.referrer.indexOf( document.domain ) < 0 ) {\n\t\t\tpl_facebook_pixel_args.referrer = document.referrer;\n\t\t}\n\n\t\t!function(f,b,e,v,n,t,s)\n\t\t{if(f.fbq)return;n=f.fbq=function(){n.callMethod?\n\t\tn.callMethod.apply(n,arguments):n.queue.push(arguments)};\n\t\tif(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';\n\t\tn.queue=[];t=b.createElement(e);t.async=!0;\n\t\tt.src=v;s=b.getElementsByTagName(e)[0];\n\t\ts.parentNode.insertBefore(t,s)}(window, document,'script',\n\t\t'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n\n\t\tfbq( 'consent', 'revoke' );\n\t\tfbq( 'init', \"394368290733607\" );\n\t\tfbq( 'track', 'PageView', pl_facebook_pixel_args );\n\n\t\tif ( typeof window.__tcfapi !== 'undefined' ) {\n\t\t\twindow.__tcfapi( 'addEventListener', 2, function( tcData, listenerSuccess ) {\n\t\t\t\tif ( listenerSuccess ) {\n\t\t\t\t\tif ( tcData.eventStatus === 'useractioncomplete' || tcData.eventStatus === 'tcloaded' ) {\n\n\t\t\t\t\t\t__tcfapi( 'getCustomVendorConsents', 2, function( vendorConsents, success ) {\n\t\t\t\t\t\t\tif ( ! vendorConsents.hasOwnProperty( 'consentedPurposes' ) ) {\n\t\t\t\t\t\t\t\treturn;\n\t\t\t\t\t\t\t}\n\n\t\t\t\t\t\t\tconst consents = vendorConsents.consentedPurposes.filter(\n\t\t\t\t\t\t\t\tfunction( vendorConsents ) {\n\t\t\t\t\t\t\t\t\treturn 'Create profiles for personalised advertising' === vendorConsents.name;\n\t\t\t\t\t\t\t\t}\n\t\t\t\t\t\t\t);\n\n\t\t\t\t\t\t\tif ( consents.length === 1 ) {\n\t\t\t\t\t\t\t\tfbq( 'consent', 'grant' );\n\t\t\t\t\t\t\t}\n\t\t\t\t\t\t} );\n\t\t\t\t\t}\n\t\t\t\t}\n\t\t\t});\n\t\t}\n\t\t<\/script><br \/>\n<br \/><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.politico.eu\/article\/ruble-value-falls-russia-war-economy-ukraine-oil-prices-sanctions-inflation-interest-rates-oligarchs\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ruble has been under steady pressure all summer, as the price of oil \u2014 Russia\u2019s most important export, despite Western sanctions \u2014 has fallen due to weak Chinese and &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=130896\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-130896","post","type-post","status-publish","format-standard","hentry","category-world","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/130896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130896"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/130896\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}