Russia Economy Is in Freefall Due to Oil Prices: Bremmer

The transcript discusses Russia's economic challenges, primarily due to falling oil prices, and the geopolitical tensions surrounding it. Despite economic issues, Putin maintains high approval by positioning himself in a geopolitical struggle. The internal logic in Russia contrasts with external expectations for compromise. Scapegoats are identified, including the West and internal figures like Medvedev. Market reactions to Russian policies are severe, with the ruble in freefall despite interest rate hikes. The global impact is significant, affecting commodity markets and inflation expectations. International responses vary, with the US and Europe considering further sanctions.

How are traders reacting to the fluctuations in the ruble and oil prices?

What potential actions might the U.S. government take regarding sanctions on Russia?

In what ways could the economic situation in Russia affect Europe and the U.S.?