4.6 • 29.8K Ratings
🗓️ 2 March 2022
⏱️ 18 minutes
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0:00.0 | This is Planet Money from NPR. |
0:06.6 | This is Planet Money, I'm Darian Woods from the Indicator Podcast. |
0:09.9 | And we are, of course, keeping a very close eye on the situation in Ukraine. |
0:14.1 | We're working to understand what this all means for the global economy and what it means |
0:19.0 | for people living in Ukraine and Russia. |
0:21.6 | The US and Europe and its allies have imposed very harsh sanctions on Russian financial |
0:25.9 | institutions, as well as on Russian President Vladimir Putin himself and other Russian elites. |
0:32.0 | And two news sanctions rolled out over the weekend, dealt an especially big blow. |
0:36.4 | They strike at one of the big ways that Putin tried to make the Russian economy immune |
0:40.9 | to Western sanctions. |
0:42.2 | They get at the billions of dollars worth of cash, gold and other assets held by Russia's |
0:47.1 | central bank. |
0:48.1 | After the break, I talk with Indicator co-host Adrian Mah about how to target Russia's |
0:53.2 | financial fortress. |
0:54.7 | Stay with us. |
1:01.5 | We are watching devastating scenes in Ukraine as Russian trucks and tanks invade the country |
1:07.5 | from the north, from the south and from the east. |
1:11.2 | It's war, but it's also a financial war. |
1:14.3 | And Russia has been building a financial defense system for something like this for years. |
1:19.4 | You might have heard of it recently. |
1:20.8 | It's called Fortress Russia. |
1:22.9 | And at the core of Fortress Russia is massive foreign exchange reserves. |
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