ruble dollar

Russian ruble plunges versus US dollar

Eric Garland DataLab

We’re tracking the immediate impact of the biting sanctions of the United States targeting the oligarchs of the Russian Federation as individuals. Some of the most powerful people in Russia – Viktor Vekelsberg, Oleg Deripaska, and others – have been directly sanctioned.

This is extremely important as the Russian Federation has used its oligarchs as a de facto tool of the State’s policies. They also hold billions in assets outside of Russia.

The impact of this change cannot be overstated – and we suspect this shift has only just begun.

The ruble’s plunge in currency exchanges is but the beginning.