Ruble Plunge Hitting Russians Speeds Slide to Recession

As Russia’s central bank struggles to shield the ruble from the standoff over Ukraine, Vasily Isaev says it may already be too little, too late to save his Italian vacation plans.

“If you get your salary in rubles, a trip to the beach in Europe is going to be difficult this year,” said the 37-year-old sales manager, looking up from his English homework in the park near Tverskoy Boulevard in central Moscow. “We’re going to Bulgaria instead of Italy this year and we’re renting an apartment a little further away from the sea.”