The Russian stock market decreased by 15% and the value of the Ruble weakened by 22% on Tuesday and continued to decrease in value on Wednesday, in light of the economic whirlwind in the country stemming from the sanctions placed on Russia by the West and the sharp decrease in the price of crude oil.
The Central Bank in Moscow attempted to halt the decrease of the Russian currency, by means of raising interest rates by 17%, but the Ruble’s value continues to plummet.