Ruble's Decline Exposes Economic Strains for Russia and China

The Russian ruble's decline against major currencies, exacerbated by Western sanctions, poses a challenge for the Kremlin as it tries to balance war spending with controlling inflation. The ruble's value has dropped to 109 per U.S. dollar, impacting consumer prices and leading the central bank to raise interest rates to 21% to curb inflation, which stands at 8.5%. Despite these economic pressures, President Putin maintains that the situation is under control, though experts highlight the visible impact of inflation on the Russian populace.