The Ruble and Martial Law

Ancient artillery on the way to the front

Well, we are watching something epic with the Ruble. Extractive economies tend to do better in wartime until they don’t. So before looking at the ruble, let me share this about martial law because it’s likely coming:

Putin proposed to introduce martial law without notifying Europe. If it is introduced, citizens will be banned from leaving the country, while they will be able to be forcibly relocated to other regions.
Putin submitted to the State Duma a draft amendment to the law on martial law and states of emergency, which provide for Russia’s refusal to notify the Council of Europe of their introduction and cancellation.

“If Russia decides to declare martial law, international agreements will not interfere with them anyway. These amendments rather mean a trend towards breaking off all possible relations with “unfriendly” countries. Yesterday Putin suspended tax agreements with the EU and the US. Soon we will see such initiatives in other areas, ”the oppositionist, ex-State Duma deputy Dmitry Gudkov explained to MO.
“The authorities are afraid to introduce martial law and for now they will do everything to avoid this,” Gudkov notes. But this does not mean that sooner or later they will not come to this. If the coming wave of mobilization fails, they may introduce martial law as well. They don’t have brains or brakes.”

🔺If martial law is…