Russia Update: Ruble Sinks to Lowest Rate Since 1998

December 3, 2014
A man walks by a currency exchange booth with the Foreign Ministry in the background in Moscow. The ruble sunk to its lowest since 1998 December 3, 2014.

Welcome to our new 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.

The price of oil rose slightly, and the ruble sunk and then rallied at above 52 again today, with economists predicting a recession in Russia.

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