By Xander Snyder
The Russian ruble, Turkish lira and Iranian rial are all falling in value. What do they have in common? The United States is in some way involved in their decline. It’s a sign of U.S. power: Even as its military becomes more limited and it threatens to pull back from the Middle East and other parts of the world, the U.S. can still put pressure on the economies of countries that are working against U.S. interests and impact global conflicts without resorting to military force.
Sanctions Pressure in Russia
For Russia, recently imposed sanctions and the threat of new sanctions are proving to be a drain on its economy and the ruble. Last week, the U.S. announced a new round of sanctions that target Russian oligarchs and their businesses. Rusal, a metals conglomerate and one of the world’s largest aluminum producers, was hit particularly hard, with its shares declining by nearly 35 percent in two days. But Rusal wasn’t the only company with ties to the Ru