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Russian authorities urged people not to panic on Tuesday as the rouble fell to a new all-time low against the US dollar amid concerns about the effect of sanctions on the country's economy.
The rouble fell about 1% to 38.71 per dollar, the weakest it has been since the currency was restructured in 1998.
Last week, the US and Europe introduced further sanctions against Russia for its actions in Ukraine.
"Don't panic," said deputy finance minister Alexei Moiseyev.
Russia needs to boost forces in Crimea because of the Ukraine crisis and a foreign military build-up, Russia's Defence Minister Sergei Shoigu says.
He said Russia must deploy "a full and self-reliant" military force in Crimea, which it annexed in March.
Pro-Russian rebels in eastern Ukraine launched their bid for separation shortly after the annexation.
Since a truce on 5 September, rebel groups have been posted near Mariupol, a key port on the main route to Crimea.
Ukrainian politicians have expressed fears that Russia may try to connect the rebels in the east with Crimea, a move that would involve seizing Mariupol.
originally posted by: stormcell
These countries play their strategy games through a rule known as Minimax:
This applies to games like Chess, Go, Checkers, Tic-Tac-Toe and anything else that requires moves.
Most of the time the play will be civilised and in small rational steps, but at the end of the game when one side knows they are going to lose no matter what, there isn't anything to hold them back from totally letting go.
With the Ruble hitting record lows once again today against the USDollar, it appears concerns over USD liquidity are growing in Russia. The Russian central bank has unveiled an FX swap operation, allowing firms to borrow dollars in exchange for Rubles for a duration of 1 day (at a cost of 7%p.a.). Of course, this squeeze on USD funding - driven by Western sanctions - will, instead of isolating Russia, force Russian companies (finding USD transactions prohibitively expensive) into the CNY-axis, thus further strengthening the Yuanification of world trade and the ultimate demise of the USD as reserve currency.
All in all, just as things were getting better, increasing pressure on Russia with not even an ounce of concrete evidence
Tensions With Russia Near Breaking Point
originally posted by: DAZ21
a reply to: mysterioustranger
I can't see Russia backing down, and plus I don't think China would allow it. Russia's now acting as the buffer zone between China and the US.