rtr4izu8The sanctions against Russia and cuts in oil prices have finally worked. They are destroying the Russian economy. The ruble has collapsed, losing 60 percent of its value since President Putin’s invasions of Ukraine began. But that’s little solace for Ukraine, whose economy has collapsed even faster; the value of its currency, the hryvna, has lost 60 percent of its value since February. The difference is that Russia had an enormous cash reserve of $550 billion —now said to be $400 billion or less — whereas Ukraine had a $40 billion deficit. More