Putins Friends Come Before Russian Ruble: Bershidsky

The video discusses the influence of Putin and Rosneft on Russia's currency markets, highlighting a significant bond deal by Rosneft and its implications. It examines the central bank's credibility, pressured by political influences to print rubles, leading to inflation and economic instability. The discussion also covers the political roots of the crisis, including Russia's isolation and potential capital controls, contributing to the ruble's volatility.

In what ways is the current economic situation described as more political than economic?

What factors contribute to the volatility in the ruble rate as mentioned in the text?