Russia had hight interest rates before the war began.
They blew well passed junk bonds at this point.
It stemmed the ruble’s slide for a few months but it is drifting lower again in the face of higher energy prices when it should be strengthening.
It was higher for a period of time at the outset.
I posted as much, said it looks like he is effectively getting around the sanctions. Things are going Putin’s way. Then the bills came due. The Indians won’t let him repatriate and it seems his evadiong the sanctions partners all screwed him in some form or fashion. The ruble got crushed, he jacked up rates-things stabilized. It’s drifting lower again recently.