The Russian ruble tumbles an all-time all on Monday. As a round of multiple sanctions from the EU, US, UK, Japan and Tiawan kick in. And sanctions from the SWIFT banking system. Banning Russian airlines in European airspace. And sanctions against Putin’s own wealth’s which are speculated to be in the billions.
The ruble once fell as to a low of 118 rubles for a dollar, and worse for it compared to the pound. And much worse comparing it with the Euro and Pound sterling.
Less investments are pouring in at Russia, as the world’s largest sovereign wealth fund freezed it’s $1.3tn oil fund from Russia and ‘divesting’ from the country as a whole. The United Kingdom’s energy company BP has said that it would also ‘divest’ from the Russian state-owned oil company Rosneft which BP has had held a 20% stake since 2013.
Russia’s debt was said to be “junk” status, according to S&P Global due to the risks of what war will reap.