Russia Update: Ruble Recovers from ‘Financial Maidan’ Before Putin’s Speech

December 18, 2014
Igor Sechin, chairman of the board of Rosneft and Elvira Nabiullina, chair of the Central Bank of Russia, before a meeting with financial and economic officials in the government December 17, 2014. Photo by TASS, declared "photo of the day" by Ekho Moskvy.

Welcome to our column, Russia Update, where we will be closely following day-to-day developments in Russia, including the Russian government’s foreign and domestic policies.

The previous issue is here, and see also our Russia This Week story The Kremlin’s Policy-Making on Ukraine is ‘A Mess’ and special features ‘Managed Spring’: How Moscow Parted Easily with the ‘Novorossiya’ Leaders, Putin ‘The Imperialist’ A Runner-Up For Time’s ‘Person of the Year’ and It’s Not Just Oil and Sanctions Killing Russia’s Economy, It’s Putin.

Right before Putin’s speech began this morning, the ruble, which lost more than 10 points this week, began to recover. A struggle is underway between hardliners and liberals in and around the Kremlin which has been blamed for the ruble fall.

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