What does it mean for Moscow?

News Snapshot:

The war in Ukraine is biting Russian economy. Russia’s currency slid beyond 100 per US dollar on Monday morning, a nearly 17-month low that has sparked internal debate over monetary policy as the economy suffers from the country’s prolonged war in Ukraine and international sanctions erode Moscow’s cash reserves. The currency has fallen by 26 per cent this year, making it the third worst-performing global currency in 2023, after only Turkey’s lira and Argentina’s peso. Before the invasion, the Russian rouble was valued about 76 roubles per dollar. Russia’s rouble has fallen a long way in recent months, and the...