Ruble's Decline Sparks Economic Concerns in Russia

Russian President Vladimir Putin has downplayed concerns over the ruble's significant depreciation, attributing it to inflation, budget payments, and oil prices. Despite Putin's reassurances, analysts warn of economic instability due to rising inflation, military spending, and falling oil prices. The ruble's decline, exacerbated by US sanctions on Gazprombank, threatens to increase import costs and inflation. Russia's central bank has intervened to stabilize the currency, but the economic outlook remains bleak amid ongoing geopolitical tensions and Western sanctions.