Economics
Why Putin Has 2006 Flash Before His Eyes After Sanctions
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With the world watching if U.S. and European sanctions over Ukraine usher in a new Cold War, the showdown first risks sparking a return to capital controls in Russia after they were dismantled eight years ago.
President Vladimir Putin’s government scrapped capital controls in 2006, becoming the only one of the biggest emerging economies to allow unrestricted flows of money across borders. If the Ukrainian conflict worsens, tripwires may be set off in case the ruble weakens 15 percent or the country’s international reserves fall about $100 billion, according to Russian economic institutes that advise the government.