In the wake of Russia’s invasion of Ukraine, western nations imposed historic sanctions meant to cripple Russia's economy. In the immediate aftermath, Russia’s currency, the rouble, plummeted. Yet over the past six weeks, something strange happened. Instead of continuing its downward trajectory, the rouble instead became the world’s best performing currency. Our host Mike Bird investigates what the rouble’s supposed strength can tell us about the impact of economic sanctions on Russia.

Sign up for our new weekly newsletter dissecting the big themes in markets, business and the economy at economist.com/moneytalks  

For full access to print, digital and audio editions, subscribe to The Economist at www.economist.com/podcastoffer

See acast.com/privacy for privacy and opt-out information.