Ruble's Decline Amid Expiring Sanctions

The Russian ruble has significantly depreciated, fueled by the expiration of crucial US licenses that have intensified economic pressures. As Moscow increasingly relies on the Chinese yuan, support from China appears to be waning, with reserves shrinking.

Western secondary sanctions are further isolating Russia, compelling Chinese banks and other international financial institutions to distance themselves. The Moscow Stock Exchange has halted trading in dollars and euros, exacerbating the situation.

Economic forecasts predict a substantial slowdown in growth by 2025. President Putin's attempts to navigate these sanctions may not suffice to stabilize the economy, leaving Russia in a precarious position.