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Putin Vows to Punish Ruble Speculators

Speech accuses U.S. and foreign investment funds of using sanctions and attacks on the ruble to weaken Russia.

By Henry Meyer, Ilya Arkhipov and Olga Tanas, Bloomberg | Updated on December 04, 2014

President Vladimir Putin vowed to punish, with “harsh” measures, speculators attacking the ruble in a defiant speech that reached into Russian history to defend his annexation of Crimea and compared his international opponents with Adolf Hitler.

“The authorities know who these speculators are and the instruments we can use to influence them,” Putin said today in his annual address to parliament regarding efforts to defend the country’s currency, which is trading near a record low. “The time has come to use these instruments.”

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