Russia's ruble has tumbled. What does it mean for the wartime economy?

abcnews.go.com:

The Russian ruble has fallen a long way in recent months, and the country's central bank is stepping in to halt the slide

Russia's ruble has fallen a long way in recent months, and the country’s central bank has stepped in to try to halt the slide.

Until now, the government stood aside as the declining ruble helped its budget. But a weaker currency also poses the threat of higher prices for everyday people in Russia — and the government has finally moved to halt the drop.

Here are key things to know:

WHY IS THE RUBLE FALLING?

Russia is selling less abroad — mainly reflected in falling revenue from oil and natural gas — and it's importing more. People or companies importing goods to Russia means selling rubles for foreign currency like dollars or euros. That lowers the ruble's exchange rate.

Russia's trade surplus — meaning it sells more goods than it buys — has shrunk. Previously, Russia saw a large trade surplus — which typically supports a country’s currency — because of high oil prices and plummeting imports after invading Ukraine.

But oil prices have dipped this year, and it's more cumbersome for Russia to sell its oil due to Western sanctions, including price caps on crude and oil products like diesel.

Meanwhile, imports have started to recover after nearly a year and a half of war as Russians find ways around sanctions. Some trade has been rerouted to Asian countries that are not participating in sanctions. And importers have found ways to ship goods through nearby countries such as Armenia, Georgia and Kazakhstan.

At the same time, Russia has ramped up defense spending, pumping money into companies that make weapons, for instance. Companies must import parts and raw materials, while some government money winds