The Russian ruble's collapse shows the power of U.S. sanctions

The sanctions haven't sparked much public interest in the West — but they have been significant

Ruble
(Image credit: (AP Photo/Pavel Golovkin))

If Bloomberg News were to report tomorrow morning that the United States government was considering enacting capital controls to prevent investors from moving assets out of the country, markets may well shrug it off because the idea is patently absurd. The entity taking the biggest hit would be Bloomberg, and the damage would be reputational — for reporting a story nobody believed.

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