The Central Bank Of Russia Is On The Defensive with Joseph Wang & Frances Coppola
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The US Sanctions to Russia
The US sanctions super, super seriously. So all the banks, they're deathly afraid of being in violation of these things. Once the authorities have said that they're going to sanction someone, everyone kind of runs away from them because they're afraid of getting caught up in this. For example, BP, gain rid of all their Russian oil assets and other companies between similar things. There's kind of a wholesale abandonment of any Russian assets. I don't think this has ever happened to the dollar for a long, long time,. Because the dollar doesn't depreciate 30% overnight.
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