Economic sanctions being felt first thing in Russia. The country’s central bank has more than doubled interest rates to 20% (!) in a bid to halt the Rouble’s losses.
And yet 
Worth remembering what stark economic hardship will be wrought on ordinary Russians, already (like the rest of us) facing deep inflation. The sanctions have come from the West but arisen from policy choices made in the Kremlin. Question is how much Russian public can endure.
Will hit the elderly and the poor hardest of all. We talk about Russia being an oligarchy, which it is, but it’s also deeply unequal, and in many cases outside of the big cities (and indeed within them), desperately poor.
Or as Gabriel puts it
https://twitter.com/ggatehouse/status/1498235858650112001
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