Putin’s 7 biggest economic problems: EvercoreISI chairman

The economic problem list for Russian President Vladimir Putin is piling up, says big name investor Ed Hyman.

Evercore ISI’s closely followed chairman revealed seven key issues now facing Putin’s economy in a new note Tuesday afternoon:

1. “The Ruble has plunged.”

2. “The plunge in the ruble could push inflation to over 20%+”

3. “The stock market has plunged.”

4. “The policy rate is up to 20%.”

5. “Unprecedented economic sanctions are being applied.”

6. “Foreign companies are shutting down their Russian operations

7. “Russia is being cut off from the rest of the world.”

To be sure, it’s getting ugly for Russia in light of its ongoing invasion of Ukraine.

Well-known Western multinationals such as Mastercard, Visa, HP and BlackRock have sought to distance themselves from doing business in Russia. Yahoo Finance has an exhaustive list of companies pulling away from Russia.

The maneuvers come as the West blocked…