Ukraine Update June 14

RuBanks Down, RuStocks Down, Monkeys with Grenades

Rubanks Down

Russia has de-dollarized, and the yuan will now be the main trading currency for Russian citizens. China’s takeover is nearing completion. Russian banks are refusing to issue dollars, and the lines, both virtual and physical, are growing.

The ruble-dollar exchange rate is now meaningless, frozen officially at 88.xx. If a currency can’t be easily exchanged, then the black market rate becomes the official rate. Russians complain that the…