A decree signed by the Russian president on Wednesday states that compensation will only be provided to injured soldiers and will be capped at 3 million rubles, or around 30,000 dollars.

The Bank of Russia announced its decision after holding an extraordinary meeting, which came after the ruble plummeted below a psychologically important mark of 100 rubles for one US dollar.

The Russian ruble has been declining steadily and reached a 17-month low this week, tumbling past 100 rubles to the U.S. dollar. This gives the ruble less value than a single American cent and ...