Russia in panic as US sanctions trigger ruble collapse – DW – 11/28/2024
www.dw.com
Russia's currency has fallen sharply as US sanctions bite, putting further pressure on the country's already strained financial system.

Summary

Russia’s ruble has plunged to its lowest level since March 2022 following new U.S. sanctions on Gazprombank, a key platform for energy payments.

The ruble’s slide, driven by sanctions, falling oil prices, and soaring defense spending, has intensified inflation and strained the war economy.

While the Kremlin benefits from a weaker ruble by converting foreign revenues into more domestic currency, experts warn of overheating risks and financial instability.

The Russian central bank is scrambling for solutions, but long-term economic pressures and declining oil revenues pose significant challenges.

  • andrew_bidlaw@sh.itjust.worksEnglish
    276·
    19 days ago

    That’s pretty not-funny that in the last couple of years I put myself into an overwork mode to get into new positions and higher pay and while the numbers went up a lot, I only slightly upped what I can afford with the rise of prices. I’m afraid of thinking what those at the bottom of the ladder experience right now. Like, even public transit is $0,5, and if you have 5\2 that’s $20 from an average $200-300 salary before paying rent\commodities that can eat another $100 or more.

    Seems like I won’t get Steam Deck anytime soon, the writing is on the wall. What a bummer. If anything, I’d like to have it to be distracted from all this daily bullshit.

    • Hellinabucket@lemmy.worldEnglish
      301·
      19 days ago

      I’ve almost doubled my salary in 5 years, I’m worse off financially due to the raise in everything else.

    • CancerMancer@sh.itjust.worksEnglish
      8·
      19 days ago

      Seems like I won’t get Steam Deck anytime soon

      You can save a lot by buying a lower model and swapping the SSD later; it will end up cheaper in total as well as immediately, which makes it almost a no-brainer. It’s not as simple as a PC but it’s still easy enough that if you’ve ever done it for a PC you will likely manage it. If you happen to live around the Ottawa/Gatineau area in Canada, I’ll do the swap for you if you’re not comfortable with it, you just need to supply the SSD (and I can give suggestions on that).

      I don’t know if any of that helps you at all but this is a realm I know well and I try to help where I can.

      • andrew_bidlaw@sh.itjust.worksEnglish
        3·
        19 days ago

        Although in a similar climate, I’m afraid we are some 10+ timezones apart.

        Yep, the cheapest version is my plan. It’s still 30-60k roubles depending on where to buy it, with my first entry-level salary in the past being around 15k\mounth to give it a perspective.

        Yet, if I manage to get it, I’d PM you if I have any questions about it (: