Russia says its economy is taking 'serious blows' as isolation grows
CNN
The Russian economy is taking "serious blows," the Kremlin acknowledged Wednesday, as the country's growing isolation piles further pressure on its tottering financial system.
Apple (AAPL), ExxonMobil (XOM),Ford (F), Boeing (BA) and Airbus (EADSF) joined a list of companies shutting down or suspending their operations in Russia in response to its invasion of Ukraine, and the European arm of Russia's biggest bank collapsed following a run on its deposits. The ruble weakened again to trade at 112 to the US dollar.
"Russia's economy is experiencing serious blows," Kremlin spokesman Dmitry Peskov said in call with foreign journalists. "But there is a certain margin of safety, there is potential, there are some plans, work is underway."
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