Russia’s central bank decided to freeze purchases of foreign currency on the domestic market through the remainder of this year to restore faith in the sliding ruble.
You will believe in the ruble by force! lol
Their interest rate is already at 8.5%, and their talking about raising it to 15%-20%. That paired with a a labor shortage. Not only that, they halted sales of corporate shares and government bonds by foreign investors last year. This is nuts. Why would anyone want to do business with or in Russia? Russia is literally a buddy economy. If you’re buddies with the dictator, you’re good. If not, you’re fucked. An economy like that will never succeed in the long-run because it’s based on social relationships and not actual production. It’s like wtf.