Ruble, Appeasers, and How Climate Change Might Decide the Winner of Russia’s Invasion

Not So Ruble

Earlier this week, I shared that many Russian economic indicators look good, and yet the sanctions are working. Here’s one example: the ruble’s strength. Why is it so strong? Isn’t it a sign that their economy is strong? Not at all.

As we’ve seen, Russia has still been able to export its fossil fuels. But it can’t import the advanced technolo…