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The Russian ruble has dropped to its lowest value against the U.S. dollar since the invasion of Ukraine in March 2022. This decline is driven by factors such as new Western sanctions targeting Russia's financial institutions and a seasonal rise in import demand. The weaker ruble is expected to fuel inflation, as 25% of Russia's consumer goods are imported. Experts predict the ruble will stabilize at around 100-120 per dollar by 2025.
To address manpower shortages, the Kremlin has raised payments to volunteer soldiers, creating a new "middle class" with earnings significantly above the national average. However, military service remains unpopular, and many soldiers are expected to leave the army after the war. Despite higher payments, Russia may need to expand mandatory service to achieve its military objectives. Send us a text in our website https://www.buzzsprout.com/2428312
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