Russia's central bank doubles a key interest rate as sanctions spark economic turmoil

USNEWS-RSS February 28, 2022

Russian President Vladimir Putin chairs a meeting on economic issues at the Kremlin on Monday, as the ruble fell and his central bank raised its key rate to a historic high.

Russia's ruble collapsed on Monday as sanctions hit, forcing President Vladimir Putin to hold an emergency meeting with his economic advisers.

(Image credit: Alexey Nikolsky/SPUTNIK/AFP via Getty Images)

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