Banknotes. Archival photoMOSCOW, 10 Apr. A US attempt to isolate Russia could lead to a fall in the dollar in favor of the ruble and the Chinese yuan, Alexander del Valle, a French political scientist and economist, wrote in an article for Valeurs actuelles magazine. In his opinion, the decision of Hungarian Prime Minister Viktor Orban to pay for Russian gas in rubles means the beginning of a split in the EU over the issue of European countries' ties with Moscow.
"She (the US anti-Russian policy. — Approx. ed.) even runs the risk of causing the dollar to fall in favor of the ruble and the Chinese yuan, which Saudi Arabia agreed to receive for its oil. It seems that soon the very concept of "petrodollar" the end will come", del Valle suggested.
The author of the publication believes that the continued purchase of Russian gas by European countries and the stability of trade relations with China, Brazil, India, Arab and African countries contribute to the recovery of the ruble after the Western sanctions imposed against Moscow. Also, as he explained, the rise in prices for oil and natural gas gives Russia a constant influx of foreign currency. Ukraine. In response, Western countries announced large-scale sanctions against Moscow, primarily in the banking sector and the supply of high-tech products. Some brands have announced the termination of work in the country.
The US compared the prospects for the dollar and the ruble and came to an unexpected conclusionThe Kremlin called these measures an economic war, the likes of which have not yet been. The authorities stressed their readiness for such a development of events and assured that they would continue to fulfill social obligations. The Bank of Russia is taking measures to stabilize the situation on the foreign exchange market. The authorities also announced the transfer of payments for gas supplies to unfriendly countries into rubles. In addition, the government has prepared a plan to counter restrictive measures, which includes about a hundred initiatives. The volume of its financing will amount to about a trillion rubles. At the same time, Europe was faced with rising fuel prices and food inflation caused by it, which caused discontent among the citizens of some EU countries. src=»/wp-content/uploads/2022/04/33bb526f907b3b50ed8f67e20660ac67.jpg» />Danger zone: the IMF saw a threat to the dollar in sanctions against Russia