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December 17, 2014

Obama Backs New Sanctions on Russia as Ruble Plunges 
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President Obama has vowed to sign a new round of sanctions against
Russia over its role in Ukraine. The move comes as Russia's currency,
the ruble, has plunged. Jason Furman, chair of the White House Council
of Economic Advisers, said U.S. sanctions are having an impact.

Jason Furman: "I mean, if I was chairman of President Putin's Council of
Economic Advisers, I would be extremely concerned. They are between a
rock and a hard place in economic policy. The combination of our
sanctions, the uncertainty they've created for themselves with their
international actions and the falling price of oil has put their economy
on the brink of crisis."

 

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