Putin aide accuses Russian central bank of sabotage - Dec. 3, 2014

Putin aide accuses Russian central bank of sabotage - Dec. 3, 2014: "As revenues fall, the currency weakens further. That drives up inflation, forcing the central bank to jack up interest rates, thereby depressing activity.
For the first time this week, the government admitted that the economy was spiraling into recession.
GDP is expected to shrink by 0.8% in 2015.
To add to the misery, the plunging ruble is making it harder for the government and big banks to repay their foreign debts.
The falling ruble is leaving the Russian banking sector vulnerable, raising fears customers might start withdrawing their deposits in rubles to switch to dollars, Capital Economics analyst Neil Shearing said.
Rumors spread quickly this week that banks were limiting the amount of dollars their customers could buy. All the big Russian banks said Wednesday they had imposed no such limits. "



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