Putin blames collapse of Russian Rouble on the West
Russian President Vladimir Putin has finally addressed the Rouble collapse that hit the nation in full force on Tuesday.
He claimed that speculation and the West caused the crash and a presidential spokesman argued on Tuesday the market´s gyrations were due to “emotions and a speculative mood”, according to Reuters.
Declining oil prices, a weakened economy and Western sanctions as a result of the conflict in Ukraine have created a “perfect storm” leading to the collapse in the Rouble, the president reportedly claimed.
The currency´s dilemma will prove problematic for Putin, who now risks losing support as his status in Russia is built on the promise of financial stability and prosperity.