In an op-ed in The Washington Post, Tom Pepinsky, the Walter F. LaFeber Professor of government, writes that Russian president Vladimir Putin doesn’t have good options if he wants to stop a bank run.
“Earlier today, Russia’s central bank announced that the country’s currency, the ruble, was fully liquid. Normally, central banks do not need to reassure currency holders this way,” Pepinsky writes in the piece. “But these are not normal times in Russia. Having launched an invasion of Ukraine just a few days ago, Russia faces some of the strongest financial sanctions that any country has faced in modern history.”
