Biden says Russian stock market will ‘blow up’ when it reopens after sanctions

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President Joe Biden says he expects the Russian inventory market to "blow up" when it reopens.
Jakub Porzycki/NurPhoto through Getty Photos

President Biden mentioned he anticipated the Russian inventory market to explode the second it reopens in response to crippling sanctions which were imposed on the nation in response to its invasion of Ukraine.

“You already know what the worth of a ruble versus a greenback? You want 200 rubles to equal $1 immediately. 200,” Biden boasted to a convention of Home Democrats in Philadelphia on Friday. “The totality of our financial sanctions and controls are crushing, crushing the Russian economic system,”

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“[The] Moscow inventory alternate is closed for a easy purpose. Why is it closed? As a result of for the final two weeks as a result of the second it opens, it will likely be disbanded. Hear me? It can blow up. Credit standing businesses have downgraded Russia’s authorities to junk standing. Junk standing,” he added.

President Biden additionally defended his resolution to not impose a no-fly Zone in Ukraine.

AP Picture/Patrick Semansky

President Biden identified that the Russian ruble has plummeted.

Konstantin Zavrazhin/Getty Photos

A map of the Russian invasion of Ukraine of March 12, 2022.

In his remarks the president additionally defended his place to not open a no-fly zone over Ukrainian airspace, warning that such a transfer “could be World Warfare III.”

That's the article: Biden says Russian stock market will ‘blow up’ when it reopens after sanctions

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