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Russia’s plans to launch a crypto-based “Digital Ruble” are not going to help it avoid Western sanctions in the foreseeable future, experts say, despite Russian officials’ claims that the new currency could deal a fatal blow to the U.S.-led global financial system.
The value of the ruble has been falling steeply, which is putting pressure on the central bank to take action.
With the ruble weakening and the government spending ever more money on the war in Ukraine, Moscow took unexpectedly sharp action to curb inflation.
Russians withdrew 100 billion rubles ($1.1 billion) from banks during the panic that ensued as Wagner mercenaries marched on Moscow last month, Russia’s Central Bank said Tuesday. “The need for cash increased in June and led to a 500 billion ruble liquidity outflow,” the bank said in a monthly monetary policy report.
Like 1982 or 1976, where they can afford to simply have a satellite nation 99 miles off the coast of the united states and needle the us via cuba constantly, by fidel castro, but these companies will want to see some return on their ruble. they are going to want to see money back for everything they are putting in, whether or not that is in sugar, rum or the major industries stilljust about taking over on the island. quick last question, what about where cuba stands on the war in ukraine? they have been one of the vocal backers, as you can imagine, and i think the kremlin is very grateful for ...