In Brief: The War in Ukraine and the Russian Economy

A lot happens every day. Alliances shift, leaders change, and conflicts erupt. With In Brief, we’ll help you make sense of it all. Each week, experts will dig deep on a single issue happening in the world to help you better understand it. *** Earlier this month, Russia raised its benchmark interest rate by 3.5 points to 12 percent, its third-largest hike in a decade. The move was an attempt to stabilize the ruble, stem rising inflation, and bring some relief to an economy struggling against sanctions, declining oil prices and the costs of Russia’s war in Ukraine. The Russian