Less than one week after Joe Biden claimed his “unprecedented sanctions” had reduced the ruble “to rubble,” Russia’s currency has recovered all its losses and is now trading higher than before the war began.
As a result of our unprecedented sanctions, the ruble was almost immediately reduced to rubble.
The Russian economy is on track to be cut in half.
It was ranked the 11th biggest economy in the world before this invasion — and soon, it will not even rank among the top 20.
— President Biden (@POTUS) March 26, 2022