Ruble crashes. The West kicks Russia out of the interbank SWIFT system, thus denying funding in U.S. Dollars. A very Cold War move.

 

Hence choking the economy off from being funded by US Dollars.  The Ruble sheds over the 27th and 28th close to 30% of  its value.  The collapse was spectacular via the on going aggression and war of annihilation that is being waged on Ukraine by Russia.  By the 1st of March the Bank of Russia had no choice but to increase rates to 20% in an effort to stabilize the currency.   The after effects will be significant for the Russian population as inflation will hit them like a freight train with foods and cost of living that will go through the roof.

But, with Putin's attempt at a modern day Blitzkrieg after 2 weeks since he invaded in February the 14th 2022 appearing to have failed, over 300 Ukraine citizens have been killed and 520,000 have been displaced of left the country.  Is turning out the the invasion is now becoming a Russia quagmire and Western sanctions aren't aimed at Putin per se, but the everyday Russian.  A force of hand to have Putin negotiate a peace deal with Ukraine and pull out Russian troops from Ukrainian territory.

Will he do it?

And will West be able to take the pain at the petrol pump?  Putin could send oil to $150.  Chart for another day.