Despite Sanctions Onslaught, Russian Ruble Returns to Pre-Invasion Levels: The ruble has steadily recovered its value in recent weeks, as the Russian government has implemented measures designed to artificially prop up its value.
I would like tentatively to share the analysis and insights of Mr. Trevor Filseth, a current and foreign affairs writer for the National Interest.
On Thursday, the Russian ruble returned to its prewar exchange rate of roughly eighty against the U.S. dollar, weeks after financial sanctions against Russia led it to lose nearly half of its value. Western observers stressed that the currency’s recovery is not indicative of a broader economic upturn in Russia, which continues to struggle under Western sanctions, but has added additional pressure on the West to impose economic restrictions against Russia that cannot be easily circumvented.
