Is Russia Running Out Of Money?

Several countries have imposed sanctions on Russia targeting the country's oil exports and economy. So could Russia run out of money?

Russia has seen an ongoing recession since mid-2014. Wages adjusted for inflation have dropped nearly 10%, and inflation itself is as high as 15%. The ruble has fallen dramatically in relation to the dollar, doubling from about 34 rubles per dollar to nearly 80 rubles per dollar in just six months.

Many blame this economic crisis on collapsing oil prices and international economic sanctions. If nothing changes, it's possible that Russia may run out of financial reserves by mid-2017.

What will happen if Russia runs out of money? Find out in today's Seeker Daily video.

Learn More:

Bloomberg: Russian Wealth Fund Has This Year's Biggest Drop as Buffers Wilt

The Guardian: Rouble in freefall despite rate hike

CNN: Russia Is Seriously Running Out Of Cash