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The Graphic Truth: How low will the Russian ruble go?

In an emergency meeting on Tuesday, Russia’s central bank raised interest rates to 12% (up from 8.5%) after its currency reached an almost 17-month low against the US dollar. Clearly the Kremlin is spooked that the Russian ruble has lost 25% of its worth against the greenback over the past seven months alone.

The ruble – which this week slid past 101 against the US dollar, before recovering slightly to 98 on Tuesday – has ebbed and flowed since Russian forces invaded Ukraine in Feb. 2022. For context, when oil prices were soaring last July (bolstered by the Kremlin's capital controls), the ruble touched around 61 to the dollar. But many analysts are skeptical that this move will be able to stabilize the ruble, warning that Western sanctions will make it very difficult for Moscow to attract foreign investment.

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All Russians lose in Putin's war
All Russians Lose in Putin's War | GZERO World

All Russians lose in Putin's war

Vladimir Putin claims overwhelming domestic support for Russia's "special military operation" in Ukraine.

Is that true?

Former US Ambassador to Russia Michael McFaul, who talks to Russians almost every day, says what he's hearing is that there no winners inside Russia, where the war has hurt Putin politically.

Even the oligarchs are unhappy: "There is not a single economic actor in Russia [who] thinks this is good."

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Zelensky addresses MPs in the British Parliament's House of Commons.

EYEPRESS via Reuters Connect

Zelensky takes center stage

On Wednesday, we’re tracking two developments that could shift the Russia-Ukraine story.

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Putin's next move won't be a Baltic invasion that could unify NATO
Putin's Next Move Won't Be A Baltic Invasion That Could Unify NATO | The Red Pen | GZERO Media

Putin's next move won't be a Baltic invasion that could unify NATO

Russian President Vladimir Putin needs a way to boost his popularity at home, but is he likely to launch a military campaign targeting the Baltic states, as Russian studies expert Leon Aron argues in a recent Politico op-ed? Ian Bremmer and Eurasia Group analysts Alex Brideau and Zachary Witlin take out the Red Pen to break down why a Baltic invasion is unlikely to be on Putin's agenda.

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Quick Take: Pro-Navalny Russian protests make Putin defensive; AMLO's COVID diagnosis
Ian Bremmer: Pro-Navalny Russian Protests & Putin | AMLO COVID Diagnosis | Quick Take | GZERO Media

Quick Take: Pro-Navalny Russian protests make Putin defensive; AMLO's COVID diagnosis

Ian Bremmer's Quick Take:

Russian opposition leader Navalny in jail. Hundreds of thousands demonstrating across the country in Russia over well over 100 cities, well over 3000 arrested. And Putin responding by saying that this video that was put out that showed what Navalny said was Putin's palace that costs well over a billion dollars to create and Putin, I got to say, usually he doesn't respond to this stuff very quickly. Looked a little defensive, said didn't really watch it, saw some of it, but it definitely wasn't owned by him or owned by his relatives.

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