Ross Clark Ross Clark

The rouble’s astonishing recovery

The tank columns are stalled; one or two towns captured from the Ukrainians have been retaken. Russia’s war effort has been going nowhere fast for the past fortnight – unless you count the constant pounding and destruction of apartment blocks a form of progress.

But then is the economic war being waged against Russia making any greater progress? True, Muscovites can no longer get a Big Mac, and western-made luxury goods have disappeared from the shelves.

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