The ruble has strengthened 30 percent against the dollar in the past year. The United States, the United Kingdom, and its allies, including the European Union, have imposed the toughest economic sanctions on Russia since the Ukraine war.
The post-Corona economic crisis has wreaked havoc on the world economy, including in the world’s strongest economies, where it has waged a full-blown war against inflation and recession, as well as a tough Western blockade.
The question is, how did Moscow manage to strengthen its currency, the ruble, despite such a difficult situation?
After Russia’s military operation in Ukraine, many thought that Western countries, including the United States, would send troops to Ukraine to fight against Russia. But in the face of Putin’s threat of an all-out war, the US-led Western world has made plans to push Russia differently without stepping on the road.
They plan to cripple Russia economically in order to oust Putin. As part of this, the United States, the United Kingdom, and European countries imposed all-out economic sanctions on Russia. In addition, huge amounts of Russian state and individual assets in Western countries were seized. Russia’s imports and exports are banned.
However, the main target of the West to ruin the Russian economy was the Russian ruble. To devalue the ruble, almost all of Russia’s major banks were expelled from the international banking channel Swift. As a result, Moscow is almost isolated from international transactions.
But soon after, Russian President Vladimir Putin began to retaliate one by one in response to the West’s economic war. All these economic measures of Moscow began to succeed by disproving all Western analysis and propaganda. The ruble quickly began to regain lost energy. At one point the ruble reached the pre-war stage of Ukraine.
But the rise of the ruble did not stop there. The ruble is currently in its strongest position against the dollar in the last seven years. At present it is available at 56 rubles for one dollar. In this way, the rise of 143 to 56 rubles per dollar in just a few months is considered by many to be a miracle.