How the Central Bank of Russia supports the war economy

Berlin Elvira Nabiullina has mostly appeared in black since the beginning of the Russian attack on Ukraine. Possibly a sign of quiet protest against the war, given that the head of Russia’s central bank previously had an apparent penchant for colorful blouses. And yet Nabiullina is considered a key figure in the Russian economy’s fight against EU and US sanctions, as one who makes the continuation of the war possible.

But apparently Nabiullina did not become the savior of the Russian ruble entirely voluntarily. According to reports in the Wall Street Journal, the head of the central bank wanted to resign at the beginning of the war, and Vladimir Putin is said to have vetoed it.

The Kremlin later denied such reports. The fact is that Nabiullina managed to lift the national currency from a historic low. Did she contribute more to the war of aggression than well-known Russian generals?

Managers versus generals

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