"President Biden bragged on Twitter on March 26 that “as a result of our unprecedented sanctions, the ruble was almost immediately reduced to rubble.” It was an ill-timed tweet. The Russian currency did crash in February after sanctions were imposed, but by the time Biden exulted, it had already regained lost ground. It’s now worth about 1.2 cents, which is down from 1.3 cents before the war but well above its wartime low of less than 0.8 cents."