https://www.npr.org/2022/03/02/ [login to see] /sanctions-russia-ukraine-economy-war
After years of life in a growing, globally connected economy, Russians find themselves in a country increasingly unplugged from the world.
Following President Vladimir Putin's invasion of Ukraine, a sweeping wave of sanctions by the European Union and the U.S. has combined with an exodus of foreign companies and investors, leaving Russia more isolated and economically restricted.
On Tuesday, Nike and Apple closed their online stores in Russia. Earlier Tuesday, the world's biggest shipping lines, MSC and Maersk, suspended container shipping to and from Russia. Airplane giants Boeing and Airbus have both stopped supplying parts and support to Russian airlines.
The ruble has fallen as interest rates soar
For several days, long lines formed near ATMs around Russia as people rushed to withdraw cash — both foreign currency and rubles — amid fears of a breakdown in electronic banking.
The value of the ruble has plummeted to a record low, less than 1 cent, as many people watched their savings erode in Monday's free-fall of the Moscow stock exchange. The indexes remained closed as of Wednesday.