Desperate Russians Race to Withdraw Cash as Sanctions Send Currency Into Free-Fall
YOUR MOVE, VLAD
U.S. Treasury cuts off Russia’s Central Bank, after trading was halted on its stock market, interest rates shot 20% and the value of the ruble plunged to a record low.
Russian President Vladimir Putin had every right to think that the threat of sanctions if he invaded Ukraine would fall flat. After all, when his troops stormed in to annex Crimea in 2014, the European Union limited some of Russia’s financial dealings—which ended up costing Europe as much as it...