#RussianBankCollapse trends as rouble hits lifetime low against US dollar
The Russian rouble has plunged to its lowest against the US dollar since Russia invaded Ukraine. The financial blow comes after the United States imposed sanctions on Gazprombank, a major private Russian bank. The fresh sanctions also target over 50 internationally linked Russian banks, over 40 securities registrars in Russia, and 15 high-ranking finance officials from the country.
US Treasury Secretary comments on sanctions
US Treasury Secretary Janet Yellen also commented on the sanctions, saying they target Russia's largest non-designated bank and several other financial institutions and officials. She claimed these measures will further weaken Russia's war capabilities. "This sweeping action will make it harder for the Kremlin to evade US sanctions and fund and equip its military," Yellen said.
Russian Finance Minister responds to rouble's fall
In response to the rouble's depreciation, Russian Finance Minister Anton Siluanov said the government is not trying to stabilize the currency. He said the current exchange rate is highly favorable for exports. This statement comes amid widespread online discussions about a potential collapse of Russian banks due to the new US sanctions.
'RussianBankCollapse' trends on X
The hashtag 'RussianBankCollapse' has become a trending topic on X, the platform formerly known as Twitter. An economics professor commented on the situation, saying Russian banks are collapsing due to the new US sanctions imposed on Wednesday. Another user expressed their satisfaction at seeing the fall of the Russian rouble.
