Money Talks: Clearing the rouble

<p>In the wake of Russia’s invasion of Ukraine, western nations imposed <a href="https://www.economist.com/briefing/2022/03/05/western-sanctions-on-russia-are-like-none-the-world-has-seen?utm_campaign=a.io&amp;utm_medium=audio.podcast.np&amp;utm_source=moneytalks&amp;utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&amp;utm_term=sa.listeners" rel="noopener noreferrer" target="_blank">historic sanctions</a> meant to cripple Russia's economy. In the immediate aftermath, Russia’s currency, the rouble, plummeted. Yet over the past six weeks, something <a href="https://www.economist.com/graphic-detail/2022/03/31/why-is-the-rouble-so-resilient?utm_campaign=a.io&amp;utm_medium=audio.podcast.np&amp;utm_source=moneytalks&amp;utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&amp;utm_term=sa.listeners" rel="noopener noreferrer" target="_blank">strange happened</a>. Instead of continuing its downward trajectory, by some measures, the rouble instead became the world’s best performing currency in March. Our host Mike Bird investigates what the rouble’s supposed strength can tell us about the impact of <a href="https://www.economist.com/business/2022/04/16/what-other-weapons-could-the-west-wheel-out?utm_campaign=a.io&amp;utm_medium=audio.podcast.np&amp;utm_source=moneytalks&amp;utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&amp;utm_term=sa.listeners" rel="noopener noreferrer" target="_blank">economic sanctions</a> on Russia.</p><p>Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at <a href="https://www.economist.com/moneytalks/?utm_campaign=a.io&amp;utm_medium=audio.podcast.np&amp;utm_source=moneytalks&amp;utm_content=discovery.content.anonymous.tr_shownotes_na-na_article&amp;utm_term=sa.listeners" rel="noopener noreferrer" target="_blank">economist.com/moneytalks&nbsp;&nbsp;</a></p><p>For full access to print, digital and audio editions, subscribe to The Economist at <a href="http://www.economist.com/podcastoffer?utm_campa