Sanctions

I am going to make a little progress and then I will give way. Sanctions announced by the UK and our allies are already having an impact. Yesterday, the rouble dropped 40% of its value, before closing 25% down; central bank interest rates have more than doubled, from 9% to 20%; international businesses are quickly divesting, as we have been hearing in the media; and the rouble is now trading at about a quarter of what it was when Putin took power. That will have an impact on the institutions that prop Putin up and that prop his cronies up.