The effect of the interest rate hike lasted only a short time, so what next, capital controls? http://www.reuters.com/article/2014/12/16/us-russia-rouble-exchange-idUSKBN0JU0KO20141216
Putin is in quite the predicament so it will be interesting to see how he handles this. I wouldn't want to be in his position, that's for sure. It's amazing how the refusal of the Saudis to decrease oil supply has the ability to send so many economies, industries and currencies into a complete tailspin.
Yea sucks to be him right now. What I find interesting is that they made the same decision to not cut supply as well. http://www.bloomberg.com/news/2014-...-cut-oil-supply-with-prices-to-stabilize.html