But in fact the money quickly disappeared, as speculators--certainly including the oligarchs themselves--converted rubles into dollars as fast as the dollars became available.
Dollars were being converted into rubles by the oligarchs themselves.
mnli hypothesis: Dollars were being converted into rubles by the oligarchs themselves. premise: But in fact the money quickly disappeared, as speculators--certainly including the oligarchs themselves--converted rubles into dollars as fast as the dollars became available.