Russian Ruble Crisis Deepens Amid Sanctions and Economic Strain

The Russian ruble has plummeted to its lowest level against the US dollar since March 2022, driven by US sanctions on Gazprombank and falling oil prices. The sanctions have restricted Russia's access to global financial systems, impacting its ability to fund military operations and receive commodity revenues. Despite increased defense spending and GDP growth, Russia faces inflationary pressures and economic instability. The government views the weak ruble as beneficial for exports, but experts warn of potential financial instability if the situation isn't managed soon.