Will the Russian economy collapse? #Shorts

Will the Russian economy collapse?

After the latest economic sanctions from the West, Russia's currency, the Ruble, fell by around 30%.

Sanctions have limited Russia's ability to transact in foreign currencies, frozen the assets of Russian banks, and cut them off from the SWIFT messaging system.

The ruble falling in value will cause a number of problems.

While Russia exports a lot of oil and gas, many other sectors of its economy rely on imports.

As their currency falls in value, imports will become very expensive to buy, causing inflation.
Even before Russia's invasion of Ukraine, the inflation rate was at nearly 9 percent, and this will only go higher.

The Russian central bank has already more than doubled interest rates to 20%, but this won't be enough.

Without access to currencies like the dollar and the euro, they may end up printing more money. This could lead to hyperinflation and a financial crisis.
Russia have been preparing for sanctions like this for some time, but even with all the preparation in the world, these sanctions are hitting hard.

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[丁日光]

This aged like milk. Russia's now a high-income economy, according to the World Bank.

[gregwooldridge]

When Mc Donald's pulled out I knew Russian's were done.

[roAXE]

Russia economy is doing well they have 2 trillon and its doing well

[UltimateV]

Nonsense, Russia got access to Yuan. A reserve currency. Will trade in Yuan with the rest of the world with different payment systems.
Congratulations, the ticking time bomb for dollar just accelerated!

[geraldallen]

No! They bought a large amount of gold!