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Russian Economy in Collapse, Country in Crisis

Oil prices bottomed up due to the increase in America's oil production and the support of OPEC member countries.  The largely oil-dependent Russian economy has collapsed.
The US warns Putin that "Russia will pay very heavily for intervention in Ukraine" months ago.  The decision to increase the oil production of the United States was followed by Opec member countries.  Oil prices fell from $ 100 to less than $ 60.

 RUSSIAN COMMAND

 Russia, which has a largely oil-dependent economy, has entered into a difficult situation due to low oil prices.  All Putin's moves failed.

 THE SOVIETS ARE NOT THAT

 The United States had previously carried out the same operation to the Soviet Union by carving with oil prices.  The U.S., which has agreed with Saudi Arabia, has increased oil production since 1986.  Crude oil fell below $ 10.  Caspian oil, which is one of the main sources of the communist economy of the Soviet Union, became almost worthless in international markets after four years.  A major economic crisis broke out in the Soviets and eventually brought political turmoil.  Then the country broke up in 1991.
INTEREST INCREASE DOES NOT WORK

 The Central Bank of Russia had raised its policy rate by 6.5 points to 17 percent yesterday to prevent a fall in the ruble.  Despite the sharp interest rate increase of the Central Bank, the dollar / ruble broke a new record for the first time, exceeding the 80 level.  Russia's 5-year CDS, which shows the risk premium, rose 34 basis points to 581 points and reached the peak of 5.5 years.

 RUBLE LOSSES TL AS I LOSE VALUE

 The parallelism of the movements between the ruble and TL in the markets draw attention today.  The dollar started rising against the TL after the $ 1 reached a record of 73 rubles.  While 1 dollar was the lowest with 2.3430 TL during the day, it rose again on record in Russia and reached 2.41 TL by 14:13.

 CRISIS ON THE EXCHANGE

 The Russian stock exchange, on the other hand, brought the country back to the 1998 crisis with a daily decline of ten percent.  A critical decision was made when the difference between the official exchange rate of the Central Bank of Russia and the free market rate reached 6% on Monday evening (black market signal).  The Central Bank increased the interest rate from 10.5 percent to 17 percent in a snap.  However, the increase in astronomical interest could only be effective for two hours.  At the stock market opening on Tuesday morning, the dollar fell to 5 rubles against the euro, but the shock effect did not last long.  The upward climb in foreign currency started again at noon.

 PUTIN QUIET

 In the face of critical developments in the Russian economy, the Kremlin Palace put Prime Minister Dmitriy Medvedev and President of the Russian Central Bank Elvira Nabiulina at the mouth of the ball.  "The Kremlin Palace will not comment on this issue. The interest rate rates in our country are under the authority of the independent institution Central Bank. The Russian government is responsible for the general economic situation," said Dmitry Putin, press advisor to President Vladimir Putin, who answered the question about the shock rate increase to the Kremlin Palace.
A DARK TABLE FOR RUSSIA

 While the national income in Russia will be reduced by 1% -5% depending on oil prices next year, Central Bank President Elvira Nabiulina is considered to be an inevitable fact, while the people who have become a bit of shocks started to produce black humor jokes.  One of the popular jokes on social networks recently is about Putin.  The paragraph is as follows: Putin is meeting with the public in Russia, where economic difficulties arise.  "Friends want to corner us with the sanctions imposed by the west. But I am sure. We will overcome the difficulties and survive this duel" a weak voice from the hall saying "We are".

 They try to be saved

 The ruble, which has lost 8-10 percent of its value every day, has pushed the people to act with the logic of 'wherever the loss is returned'.  Those who have accumulated certain rubles in their hands turned to property with durable consumer goods instead of buying excessively expensive dollars or euros.  Among the top products purchased are television, refrigerator, washing machine, smartphone, computer and automobile.  Those who have accumulation of more rubles in their hands choose the way of buying their money for the property, and the apartment.  There are a few other issues that make people on the street worried the most.  The first one is concerned about losing their job and falling their income.  The second major concern is that the administration has banned foreign currency across Russia.  The third irritating issue is the freezing of accounts in banks or the bankruptcy of banks.  According to the laws of Russia, the amount under the state guarantee in banks is around 700 thousand rubles (27 thousand TL at the current exchange rate).

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