The ruble may not be showing it, but Western economic sanctions imposed against Russia are working.
In revealing testimony before the Duma parliament, the head of the Central Bank of Russia (CBR) told the country’s lawmakers she had to throw everything but the kitchen sink just to prevent a full-blown run on the banking system.
“The sanctions imposed against Russia affected the situation in the financial sector, spurred the demand for foreign currencies, and caused fire sales of financial…
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