Pretty easy to do when you deliberately prevent anyone from actually exchanging rubles for dollars. Last I checked black market exchange rate was at least 15% higher.
That said, you are right, this thing does not really work in any term. Though prevention of manufacturing equipment imports does hit pretty hard, I already felt obvious after shocks.
Pretty easy to do when you deliberately prevent anyone from actually exchanging rubles for dollars. Last I checked black market exchange rate was at least 15% higher.
That said, you are right, this thing does not really work in any term. Though prevention of manufacturing equipment imports does hit pretty hard, I already felt obvious after shocks.