Russia’s ruble and economy are growing despite sanctions

Russia has managed to avoid a deep financial crisis, the United States said
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Sanctions against Russia in general and the Urals in particular

Russia’s economy and currency are recovering, despite sanctions against Russia. This was reported by the American newspaper The Washington Post.

“The Russian ruble and the banking system continue to recover from the initial blow of sanctions. Because Moscow relies on energy exports and currency controls to partially protect the national economy, “The Washington Post reports.

The export of oil and gas, which brings Russia a flow of currency, is also affected, the publication notes. The Bank of Russia has managed to avoid a deep financial crisis, said Elina Rybakova, deputy chief economist at the Institute of International Finance, the Association of Banks and Financial Companies. Economists believe that “the Russian economy is still in great pain” and inflation this year may reach at least 20% and GDP will fall by 15%.

The United States, European countries and other countries have imposed sanctions on Russia over a special operation in Ukraine in late February. After that, the ruble began to fall. According to the Moscow Exchange on March 31, the euro and the dollar fell to 83 and 88 rubles, respectively. These figures are lower than they were before the sanctions were imposed. Russian President Vladimir Putin has signed a decree on paying for gas only in rubles for unfriendly countries, RT reports. This decision was supported by 76% of Russians, 27% of respondents believe that it will help strengthen the ruble.

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Russia’s economy and currency are recovering, despite sanctions against Russia. This was reported by the American newspaper The Washington Post. “The Russian ruble and the banking system continue to recover from the initial blow of sanctions. Because Moscow relies on energy exports and currency controls to partially protect the national economy, “The Washington Post reports. The export of oil and gas, which brings Russia a flow of currency, is also affected, the publication notes. The Bank of Russia has managed to avoid a deep financial crisis, said Elina Rybakova, deputy chief economist at the Institute of International Finance, the Association of Banks and Financial Companies. Economists believe that “the Russian economy is still in great pain” and inflation this year may reach at least 20% and GDP will fall by 15%. The United States, European countries and other countries have imposed sanctions on Russia over a special operation in Ukraine in late February. After that, the ruble began to fall. According to the Moscow Exchange on March 31, the euro and the dollar fell to 83 and 88 rubles, respectively. These figures are lower than they were before the sanctions were imposed. Russian President Vladimir Putin has signed a decree on paying for gas only in rubles for unfriendly countries, RT reports. This decision was supported by 76% of Russians, 27% of respondents believe that it will help strengthen the ruble.

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