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Person who they can into ukraine. that will just get people shot and killed by road side bombs each day. >> bringing in our reporter. how is putin trying to mitigate the damage right now? can he mitigate the damage? >> it seems as if he's struggling to do that. that is as a result of the fact that russia, even though they've been building their $630, $640 billion in reserves as a buffer to any sanctions that could come down the pike, they don't have any access yesterday, we talked

Can't access is because that's money they have over 640 billion in reserves, that's money they could use to prop up the ruble and finance the violence machine in ukraine now and now they won't be able to do that. >> what you're talking about s, the 640 approbillion in reservee rainy day fund putin has been amassing to insulate himself for this very occasion. why this time can't he access it? >> that's right. the reason he can't access it is because the sanctions that have been announced prohibit u.s. persons and european persons from -- and persons, individuals and businesses from engaging in ...

Different actually. if you look at the options themselves. because russia is so well integrated into the international financial system because they traded so much all around the world. in particular, with the united states and europe, and these are the major countries like, australia, canada, japan. wielding the sanctions. that is why i say they are unprecedented. because of the pain that they can inflict. we'll be all the greater. and when you have a country that is integrated that well into the international financial system and doing trade with all of these countries, it presents post an o...

Ruble, which lost about a quarter of its value against the u.s. dollar on monday alone. there have been long lines at atms across the country, many scrambling to exchange rubles for euros and dollars but foreign currency has been difficult to find. after heavy losses last week, the moscow stock exchange will remain closed for a second day on tuesday. still, the kremlin insists preparations have been made to compensate for western sanctions. we're joined by ryan patel from the drucker school of management. ryan, thanks for being with us. >> my pleasure, john. >> part of putin's preparation was ...

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