The move to raise rates from 10.5 percent is aimed at limiting the ruble's slide and curbing inflation. Sanctions and low oil prices have made it the world's worst-performing major currency this year.
Russia, China and other emerging market countries have been buying up large quantities of gold, something governments and individuals have done for centuries during uncertain economic times.
Falling oil prices have been good news for the U.S. But they're causing multiple problems for some exporters. Government budgets are strained. Economies are struggling. Currencies are crashing.
The Russian president said in his state of the union speech that the "difficulties" his country faces "also create new possibilities." He accused the West of trying to break up Russia.
The decision reopens for scrutiny the mechanism by which Russia and Qatar were awarded the tournament in 2018 and 2022. The two countries were cleared last week of corruption in their winning bids.
Soccer's governing body said assets may have been transferred to Switzerland in connection with the bids. Just days ago, FIFA cleared eventual winners Russia and Qatar of corruption.
The Boeing 777 that crashed over the area on July 17, killing nearly 289 aboard, is widely believed to have been downed by a Russian-built, rebel-operated surface-to-air missile battery.
President Obama and Canada's Prime Minister Stephen Harper were among those who gave the Russian leader an earful over Moscow's involvement in Ukraine.