The Russian rouble plummeted past the 100-mark against the U.S. dollar on Saturday as President Vladimir Putin vowed a firm response to what he referred to as an "armed mutiny" led by Yevgeny Prigozhin, the boss of the Wagner mercenary group, who has reportedly seized control of a strategic city while advancing towards Moscow.
According to the daily exchange rate announced by Rosbank, the rouble fell to 105 against the U.S. dollar, marking a significant blow to Russia's currency. It also experienced a steep decline against the euro, hitting an exchange rate of 115 roubles per euro.
During a nationally televised address, President Putin denounced the actions of the Wagner Group as an act of treason and promised that "decisive action" will be taken against the group members. His comments were a stern response to the nation's first armed insurrection since the Chechen wars two decades ago.
Yevgeny Prigozhin announced on Telegram that he has successfully captured the headquarters of Russia's Southern Military District in Rostov-on-Don, a small but strategic city located close to the border with Ukraine.
Rostov-on-Don plays a critical role in Russia's military operations as the main rear logistical hub for Russia's invasion force. The developments could significantly impact Russia's military capabilities and strategy.
Reports confirm that heavily armed fighters from Prigozhin's militia have indeed taken control of the streets of Rostov-on-Don. Wagner fighters are also said to be in control of military facilities in the city of Voronezh, on the highway to Moscow.
Chechen leader Ramzan Kadyrov , who has led Chechnya since 2007 and is a close ally of Russian President Vladimir Putin, said in a post on the Telegram messenger app that he dispatched national guard to the "rebellion zone" and was ready to take tough measures to crush Wagner forces.
The international community now watches closely as this unprecedented internal conflict unfolds in Russia.
