Feb 28, 2022

To prop up the ruble, Russia beefed up its reserves. Now they’re inaccessible.

MIchal Cizek/AFP via Getty Images

U.S. and ally sanctions have frozen Russian assets, making them impossible to access and to stabilize the ruble.

Segments From this episode

How sanctions will prevent Russia from using its $600 billion-plus rainy day fund to prop up the ruble

by Mitchell Hartman

Feb 28, 2022

Much of the fund is in banks outside Russia — and now off-limits to the country's central bank.

An electronic sign with currency values in Moscow. Russia's plan to bolster the ruble with foreign reserves isn't panning out.

Alexander Nemenov/AFP via Getty Images

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How sanctions could make life harder for Russian citizens

by Kristin Schwab

Feb 28, 2022

Long lines at ATMs. A significant drop in the ruble's value. Economic sanctions are already being felt by everyday Russians.

The ruble has lost about 25% of its value since Friday. Above, people walk past a currency exchange office in Moscow.

Alexander Nemenov/AFP via Getty Images

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The global economic HVAC system

Let’s take a deeper look at SWIFT, the global interbank messaging service.

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Amid wave of sanctions, Russia's energy sector is getting off pretty light so far

by Kai Ryssdal and Sean McHenry

Feb 28, 2022

Oil and gas are key to the Russian economy, yet penalties are focused elsewhere. Could that stance change?

The construction site of a Russian platform that will hold liquified natural gas.

Mario Tama/Getty Images

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Germany turns tough toward Russia over Ukraine invasion

by Stephen Beard

Feb 28, 2022

Germany dropped its opposition to some tough new sanctions against Russia and is now stepping up spending on defense.

German Chancellor Olaf Scholz, seen above, announced
a sharp increase in military spending on Sunday.

Clemens Bilan/Getty Images

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Sectors that rely on Ukrainian industry slow down

by Lily Jamali

Feb 28, 2022

Industries ranging from chemicals to agricultural processing and building materials are being affected.

The global supply chain is set to face further disruptions following Russia's invasion of Ukraine.

Pierre Crom/Getty Images

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Music from the episode

Nightrider Tom Misch, Yussef Dayes, Freddie Gibbs

Carefully Little People

Perfect Circle Nujabes

Natural Cause Emancipator

Brisk Freddie Joachim

Chosen Blood Orange

So Far to Go J Dilla, Common, D'Angelo

The team

Nancy Farghalli Executive Producer

Maria Hollenhorst Producer II

Andie Corban Producer I

Sean McHenry Director & Associate Producer II

Richard Cunningham Associate Producer I

Dylan Miettinen Associate Digital Producer

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