The Russian central bank on Monday more than doubled interest rates to 20% as the ruble, the country’s currency, sank to an all time low of nearly 118 against the U.S. dollar in offshore trading following a flurry of stringent western sanctions against the country amid its invasion of Ukraine. Read More: https://www.forbes.com/sites/siladityaray/2022/02/28/russian-central-bank-hikes-interest-rate-to-20-as-ruble-sinks-to-record-low/?sh=7f016a687a7e&utm_source=FBPAGE&utm_medium=social &utm_campaig

The value of the ruble has crashed to a record low as the UK, US and EU restrict Russia’s central bank from accessing more than $600 billion worth of foreign reserves. Paul McNamara explains how this is impacting Russian citizens and businesses. | Channel 4 News