Ones and Tooze
Ruble Roulette
Aug 18, 2023
This podcast explores the impact of Western sanctions on Russia, the fall of the ruble and labor market crunch, the effectiveness of sanctions on the Russian economy, and the potential path back to normal for the Russian economy. It also touches on the challenges and growth of the economy in Niger and discusses the recent coup in Niger and its impact on French sentiment.
40:16
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Quick takeaways
- The Russian ruble's depreciation and its impact on imports and inflation pose challenges to Russia's economic strategy.
- Sanctions imposed on Russia have disrupted its market position but loopholes and indirect routes have enabled businesses to bypass them and sustain the war economy.
Deep dives
The Economic Impact of Russia's Weak Ruble
The Russian ruble has experienced a significant depreciation, losing 40% of its value since last year. The weak ruble poses a problem for Russia's economic strategy, as it impacts the cost of imports and triggers inflation. The under the influence of the war, Russia's economy is booming, leading to a shift towards a deficit in the trade account and a depreciation of the currency. The Russian economy is facing challenges due to the war economy and a lack of anticipation by the central bank in managing the exchange rate. Despite the challenges, the Russian war economy continues, supported by its access to Asian demand and ongoing trade surpluses.
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