Strength of rubble does not measure whether sanctions work, but which side of the sanctions works better: sanctioning exports depreciates the exchange rate; limiting imports appreciates it.

Such a model accounts well, out-of-sample, for rubble 's path, see paper.
RT @itskhoki: Very impressed by the precision of our forecast of the Ruble exchange rate with @MukhinDA which we made back in August based on a calibration of our model using the likely path of Russian e…

🐦🔗: https://n.respublicae.eu/lugaricano/status/1626582230033367041