The Russian Crisis Explained in Two Minutes

The video discusses the collapse of the Russian ruble, primarily due to falling oil prices and Western sanctions following Russia's invasion of Crimea. The Central Bank of Russia attempted to stabilize the ruble by using foreign reserves and hiking interest rates, but these measures had limited success. The ruble's decline is expected to worsen inflation and deepen the recession. The video suggests that easing tensions in Ukraine could help, but this is unlikely due to domestic political factors.

What measures did the Central Bank of Russia take to stabilize the ruble?

What impact does the decline of the ruble have on inflation and the recession in Russia?