Ruble coins and banknotes. File photoMOSCOW, June 12Further strengthening of the ruble will lead to additional costs for the West when buying Russian energy resources, Axel de Vernou said in a National Interest column. gas in the national currency led to a significant strengthening of the ruble.
"The burden that has fallen on the shoulders of the West, forced to accept Putin's system, will become more and more painful. If the ruble continues to appreciate in the coming months, Western countries will have to bear the additional cost of converting their currencies into rubles in order to pay for the import of irreplaceable energy resources," demand for the Russian currency in the world, and will also show the ineffectiveness of Western sanctions against Russia.Nabiullina named two reasons for the strengthening of the ruble The exchange rate of the national currency began to fall with the start of a special military operation in Ukraine at the end of February — from the level of 80 rubles per dollar and 90 rubles per euro. The historical maximum dollar and euro set on March 10: 121.53 rubles per dollar and 132.42 rubles per euro. After the actions of the Central Bank, the Russian currency began to strengthen. As a result, on May 25, the exchange rate was 55.8 rubles per dollar and 57.1 rubles per euro — at least from February 2018 and from May 2015, respectively. From April 1, Moscow began to accept payments for gas from unfriendly states in rubles to leave from settlements in dollars and euros. Vladimir Putin stressed that the refusal to operate in the Russian currency would be considered as a default on the obligations under the contracts. April «Gazprom» stopped deliveries of fuel to Bulgaria and Poland due to non-payment. At the same time, the company warned of a reduction in transit to other countries if Sofia and Warsaw begin illegal fuel sampling. As of May 21, deliveries to Finland have ceased. According to Bloomberg, the European Commission issued clarifications on the new payment system for Russian gas, but never directly indicated whether opening a ruble account contradicts the sanctions.Read the full text of the article on the InoSMI website > >
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