MARKETPLACE: The invasion of Ukraine and economic sanctions on Russia caused the ruble to tank on Monday, and everyday Russians are already starting to feel the pinch. The Russian Central Bank had already grown a rainy day fund of more than $600 billion in securities and reserves in foreign countries as a hedge against future sanctions. But the U.S. and its allies have frozen Russian assets and made them near-impossible to access. Also on today’s program, a look at why Russia’s valuable energy sector is evading sanctions, zooming in on Ukraine’s role in the global economy and explaining SWIFT, the global interbank messaging service.
MARKETPLACE TECH: The IRS offers some taxpayers the option to file their taxes online for free using commercial software. But this year, fewer companies will be participating. Intuit, the maker of TurboTax, is out, and it has been in a fight with many of its customers since a 2019 ProPublica investigation found that the company allegedly misled consumers into paying for supposedly free services. Marketplace’s Kimberly Adams speaks with Justin Elliott, one of the reporters who broke the story, He says TurboTax has tried to shield itself from traditional class-action suits.
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