> this has the effect of strengthening the rouble by attracting foreign investment from friendly countries such as china and india,  ivan, this is not how it works. often, foreign investments rely on taking credit from the local banks. a 20% interest rate will make them gtfo. > it also encourages people to save, trimming consumer spending.  this in itself should be a catastrophic sign. your war machine is largely funded by taxes. people spending less => less vat collection and less economic activity => less money in circulation => income of businesses gets reduced => ! > >> yet the government has almost entirely shielded the real economy from tighter monetary policy. this is just cope unless they have exempted the petroleum industry from any of this, and 70% of russians work in this industry.
Norway