>The ruble was trading at roughly 85 to the U.S. dollar, roughly where it was before Russia started its invasion a month ago. The ruble had fallen as low as roughly 150 to the dollar on March 7, when news emerged that the Biden administration would ban U.S. imports of Russian oil and gas.
>But Russia’s oil and gas exports have continued to Europe as well as to China and India. Those exports have acted as an economic floor for the Russian economy, which is dominated by the energy sector. In the European Union, a dependence on Russian gas for electricity and heating has made it significantly more difficult to turn off the spigot, which the Biden administration did when it banned the relatively small amount of petroleum that the U.S. imports from Russia.
>“The ruble’s rebound would seem to indicate that U.S. sanctions haven’t effectively crippled Russia’s economy, which is the price Putin should have to pay for his war," said Sen. Pat Toomey, R-Pa.
how much of their foreign currency holdings they still hold did they decimate to prop up ruble?
Ayden Roberts
>which the Biden administration did when >it banned the relatively small amount of petroleum that the U.S. imports from Russia. Straight up admitting the price hikes have nothing to do with Russia
Tyler Wilson
Woooow you mean Biden’s little bs sanctions don’t do shit just like Obama’s. Fuck me dude.
gg RussBros
Logan Rogers
Russia unironically goes planned economy. Yes, you can keep the rubles value up. No, you can't do it for free. The purpose of this is to factlitate foreign trade, at the cost of setting the domestic market on fire. Russia is in special economic operation economy now.
Jaxon Gonzalez
>What do you mean you won’t let your currency get manipulated by foreigners during a war?
Nathan Cox
This. It’s why Venezuela and Iran told Biden to fuck off when he begged for oil. It’s why Saudi Arabia and the UAE wouldn’t take his calls when he was begging for OPEC to increase production. It’s why China and India and Pakistan and a whole bunch of other countries told him to fuck off about the sanctions. It’s why Saudi Arabia is talking to China about doing oil contracts in yuan instead of dollars. We’re watching US financial and military hegemony collapse in real time.
James Garcia
>I want to sell my roubles and buy euro >WTF DON'T MANIPULATE THE CURRENCY
Liam Anderson
Thanks Biden
Leo Barnes
Russia made the last bond payment in dollars. And by forcing their gas contracts to Europe to be paid in rubles, they keep the ruble propped up while still getting foreign currency to make future bond payments. The ruble is at 81.86 to the dollar today. It was 83 yesterday.
Joshua Walker
>to them Most of us see us as a joke, too, user. Because we are.
Nathaniel Gomez
but no payments for gas has been maid in rubles, forex rates don't move based on future possibility, so they flushed their foreign currency reserves to prop up ruble
Nicholas Ramirez
>Russia will stop being a shithole in 2 more weeks that is some great chess
It's just Western cope, much like muh 4 million dead Ruskie troops.
Mason White
> Most of us see us as a joke, too those are the guys I still have respect for. the rest are scum.
Justin Smith
>selling a currency backed with oil and gold for funny monopoly money NGMI
Carter Reed
Perception matters more than reality, even if they are manipulating, dumb investors will pour back in trying to make quick money. Russia takes home a major Win!
