A woman walks past a board listing foreign currency rates against the Russian ruble outside an exchange office in central Moscow on December 16, 2014. The Russian ruble set a new all-time record low on Tuesday after bouncing back briefly despite an emergency move by Russia's central bank to raise interest rates to 17 percent.

A woman walks past a board listing foreign currency rates against the Russian ruble outside an exchange office in central Moscow on December 16, 2014. The Russian ruble set a new all-time record low on Tuesday after bouncing back briefly despite an emergency move by Russia's central bank to raise interest rates to 17 percent.

Russia’s economy is in turmoil as authorities there take drastic steps to stabilize the ruble. To help prop it up, the central bank raised a key interest rate and the Russian government has begun selling off its foreign currency reserves. The economy is being battered by a combination of western sanctions and falling oil prices. The country faces fears of a bank run as consumers buy big-ticket items before prices rise. While some say this crisis will erode President Vladimir Putin’s political support, others believe he can weather the crisis. Diane and her guests discuss what’s next for Russia’s economy and its impact on global markets.

Guests

  • Marin Katusa Chief energy strategist, Casey Research; author of "The Colder War: How the Global Energy Trade Slipped from America's Grasp."
  • Fiona Hill Senior fellow and director, Center on the US and Europe at Brookings Institution; author of "Mr. Putin: Operative in the Kremlin."
  • Christian Caryl Senior fellow, Legatum Institute; contributing editor, Foreign Policy magazine; senior fellow, MIT Center for International Studies; author of "Strange Rebels: 1979 and the Birth of the 21st Century."
  • Edward Lozansky President, American University in Moscow; Professor, National Research Nuclear University.

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