Graphic detail | The bear’s market
Western sanctions have rocked Russia’s financial system
But the damage so far pales in comparison with the financial crisis of 1998
T HE SANCTIONS are unprecedented, but the results are grimly familiar. After Western countries froze Russia’s central-bank reserves and banned some of its banks from SWIFT, a payment network, the prices of Russian assets plummeted.
This article appeared in the Graphic detail section of the print edition under the headline “The bear’s market”
From the March 5th 2022 edition
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