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Vladimir Putin is reportedly considering proposals to freeze Russian bank accounts and introduce food rationing in an attempt to prevent an economic collapse.
Russians have been hit hard by rising interest rates and food inflation that has seen prices for staple items explode. Potato prices rose by almost 95% between November 2023 and 2024, while butter shot up by 36.5%.
The steep increase in food has led to a spate of robberies from supermarkets and grocery stores around the country, most notably for butter. Meanwhile, interest rates stand at a record high of 21%, heaping huge pressure on companies over-leveraged on previously cheap bank loans.
www.express.co.uk
Russians have been hit hard by rising interest rates and food inflation that has seen prices for staple items explode. Potato prices rose by almost 95% between November 2023 and 2024, while butter shot up by 36.5%.
The steep increase in food has led to a spate of robberies from supermarkets and grocery stores around the country, most notably for butter. Meanwhile, interest rates stand at a record high of 21%, heaping huge pressure on companies over-leveraged on previously cheap bank loans.
Russia faces economic 'collapse' as bank accounts to be frozen and food rationed
The worsening economic outlook has forced the Kremlin into considering drastic proposals to stem the crisis.
www.express.co.uk
