The U.S. Announces $2 Billion in Military Aid for Ukraine and New Sanctions on Russia

The Biden administration marked the one-year anniversary of Russia's invasion of Ukraine by announcing a $2 billion arms package for Ukraine and new sanctions on Russia. The Russian economy took a hit, but overall, again, the ruble did good, their oil sales went up. Despite predictions of a double-digit GDP contraction in 2022, the Russian economy held firm with the ruble being one of the top-performing currencies against the dollar.