Russias Prospects for Next Year Are Grim: Lipman

The transcript discusses the uncertainty surrounding Putin's messages amid Russia's economic challenges, including a declining ruble and potential new sanctions from America. It explores the debate over capital controls and the Central Bank's controversial decision to raise interest rates to 17%, which impacts business activity. Despite economic turmoil, public loyalty to Putin remains high, with approval ratings over 80% since Crimea's annexation. However, loyalty to the ruble is waning, leading to capital flight and economic instability.

What is the current state of the ruble and its impact on business activity in Russia?

Discuss the implications of capital flight in Russia as mentioned in the text.