LE ROUBLE DANS LA TOURMENTE
In: Politique internationale: pi, Heft 146, S. 1-6
ISSN: 0221-2781
Interview with Sergei Guriev, Russian economist, professor of economics at Sciences-Po Paris and former rector of the New Moscow School of Economics (New Economics School). In mid-December 2014 the ruble experienced a brutal collapse, losing 20% of its value in a single day. The trend began in September when the euro was worth 46 rubles. Three months later it took 100 rubles to buy one euro! Sergei Guriev, long one of the most prominent economists in Moscow before seeking refuge in Paris in 2013 when the authorities began investigating him - he had the effrontery to publish a report on the Yukos affair whose conclusions were not what the Kremlin wanted to see - analyzes this currency crisis in detail. He explains that the first cause of the depreciation is the plunge in world oil prices. Western sanctions, which prevent Russian banks and businesses from raising funds on global markets, proved the final blow. If the price of black gold does not rapidly recover - and it does not look that way - the Russian economy is about to go through an extremely painful period. Adapted from the source document.