Aeroflot and the Russian economy are reeling

Aeroflot Russian Airlines has made this announcement:

Due to the closure of airspace of a number of European countries Aeroflot cancels flights and suspends flights to the following destinations:

  • Ljubljana (Slovenia) – until March 26
  • Sofia (Bulgaria) – until May 24
  • Bucharest (Romania) – until March 26
  • Riga (Latvia) – until March 26
  • Prague (Czech Republic) – until March 26
  • Warsaw (Poland) – until May 25th
  • London* (United Kingdom) – until May 23
  • Dublin* (Ireland) – until May 23
  • Chisinau (Moldova) – until March 4

Russian airlines are facing stiff air closures for their aircraft heading west.

Why is Aeroflot allowed to fly to the United States?

Meanwhile the Russian economy is reeling. The Rouble is slumping in value.

From the BBC:

“Russia has more than doubled its interest rate to 20% in a bid to halt a slump in the value of its currency.

The Bank of Russia raised the rate from 9.5% after the rouble sank 30% after new Western sanctions. The currency then eased back to stand 20% down.

The collapse in value erodes the currency’s buying power and could wipe out the savings of ordinary Russians.

Amid pictures at the weekend of queues at cash machines, Russia said it had the resources to ride out sanctions.

Ahead of an emergency meeting between President Vladimir Putin and his economic advisers on Monday, Kremlin spokesman Dmitry Peskov said: “These are heavy sanctions, they’re problematic, but Russia has the necessary potential to compensate the damage from these sanctions.” He said Russia would respond with its own sanctions.”

Read the full article:

https://www.bbc.com/news/business-60550992

From the Washington Port:

The war in Ukraine isn’t working out the way Russia intended.