Sanctions and low oil prices beginning to collapse the Russian Ruble

I heard today on PBS radio that Russia has put 28 billion dollars into propping up the Ruble to no avail. So, they are giving up at this point and letting it go into free fall. This is distressing for the average Russian because likely this will bring almost an infinite level of inflation to everything they buy potentially.

However, it isn't just sanctions doing this. At least about 40% of the funding of the Russian Government is based upon the price of oil. If it goes below 85 to 95 dollars a barrel it is a disaster for the Russian government. This is also a political disaster for Putin because he might not be able to stay in power if he cannot reverse this trend.

The Ruble Is Collapsing - Business Insider

www.businessinsider.com/the-ruble-is-collapsing-to-reco...

Business Insider

Oct 8, 2014 - The Russian ruble has collapsed to a record low against a basket of dollars and euros despite intervention by the central bank to prop it up.

The Rouble Is Collapsing Again - Business Insider

www.businessinsider.com/the-rouble-is-collapsing-again-...

Business Insider

2 days ago - Russia's currency is taking another nosedive on Wednesday, briefly hitting a new record low of 45 rubles to the dollar. Falling oil prices have ...

Russian Rouble Collapsing Again - Business Insider

www.businessinsider.com/russian-rouble-collapsing-agai...

Business Insider

3 days ago - Oil price falls are driving down the ruble. ... The Russian Rouble Is Collapsing Again As Oil Prices Slide To New Lows. Tomas Hirst. Nov.