A central bank digital currency could provide Russia with an alternative to the SWIFT international payment system from which it has been cut off, but the digital ruble has a long way to go before it enters mainstream circulation.
As Russian president Vladimir Putin marks 25 years in power, spending to back his war in Ukraine is propping up the economy.
In Putin’s Russia, property rights have become casualties of war, with a precarious reliance on personal approval supplanting legal frameworks, foreshadowing potential chaos in a post-Putin era.
The authors of the article studied the exodus of Russians following the invasion of Ukraine. They also examined the challenges faced by the Central Bank as it struggles to control inflation.
Russian companies are not only selling more metals to China, but also integrating their value chains with Chinese firms.
The sanctions deployed against Russia have failed to break Vladimir Putin’s war machine, and now the West is looking for ways to make them more potent. In doing so, Western policymakers should remain clear-eyed about potential risks and side effects.
Some are finding ways to make money in wartime Russia, but no one views the country as a safe place to keep savings. Ultimately, it is only high savings rates and a lack of alternatives that are keeping the last remaining investors in the Russian financial market.
