Russia and Ukraine flashpoint

[SecondWar]

Ryuu96 said:

And here’s where it’s beginning to trickle (or rather, pour) down on average Russians: As of tomorrow, Sberbank is raising mortgage rates on homes (both finished and under construction) by 7.5% to 18.6%.

This is Putin’s new economy. This will be his legacy. https://t.co/rRKrG6GEqd

— Bianna Golodryga (@biannagolodryga) February 28, 2022

The Central Bank doubled the base interest rate from 9.5% to 20%. The rouble has tanked 40% against the dollar.

That $630bn war chest is suddenly worth significantly less. That’s if they can even spend it at all given the breadth of the sanctions they are under.