President boasted in March sanctions were ‘crushing’ Moscow
By Art MooreThe hard economic figures indicate President Biden’s effort to crush the Russian economy in response to Moscow’s invasion of Ukraine isn’t working.
The ruble hit a four-year high this week.
In March, Biden touted the sanctions and other measures to punish Russia economically.
“You need 200 rubles to equal $1 today. Two hundred,” he said.
The president said the “totality of our economic sanctions and controls are crushing, crushing the Russian economy.”
Now, it takes about 62 rubles to equal $1.
See Biden’s remarks in March:
President Biden: “You need 200 rubles to equal one dollar today. Moscow's stock exchange is closed for a simple reason. I get asked ‘well why is it closed?’ Because the moment it opens it will be disbanded. You hear me? It will blow up.” pic.twitter.com/PJyLwikywt
— The Hill (@thehill) March 12, 2022
Independent journalist Jordan Schachtel posted a chart on Twitter showing the ruble’s rise in value since mid-March:
"Mission Accomplished"
Ruble now at 4 year highhttps://t.co/s0fXF14grh pic.twitter.com/Wr7WaR6MK0
— Jordan Schachtel @ dossier.substack.com (@JordanSchachtel) May 19, 2022
