At the end of March, the Russian ruble erased all of its losses following the start of the Ukraine conflict.
The Ruble is back. All post invasion losses erased. Amazing what gold backing can do.https://t.co/Wu8PH4stz8 pic.twitter.com/PdeMVdHI8L
— Wall Street Silver (@WallStreetSilv) March 30, 2022
It is now trading at around a 52 week high.
Ruble trading at $76.54 near 52 weeks high
— Ragıp Soylu (@ragipsoylu) April 7, 2022
The ruble has surged all the way back to where it was before Putin invaded Ukraine, closing at 79.7 in Moscow on Wednesday https://t.co/vZgkR43dux pic.twitter.com/7IYEqJaWzw
— Bloomberg (@business) April 7, 2022
A number of European countries like Hungary have stated that they have no issue paying Russia rubles for gas.
BREAKING: Hungary's Viktor Orban says the country has no problem paying for Russian gas in ruble
— The Spectator Index (@spectatorindex) April 6, 2022
Western sanctions on Russia have totally failed, yet despite that, they are trying to find new ways to sanction Russia. They’re getting so desperate that they’ve actually sanctioned Vladimir Putin’s daughters.
U.S. and European moves to sanction two adult daughters of Russian President Vladimir Putin cast a spotlight on a family shrouded for years in secrecy https://t.co/yrfFpD4CKX
— The Wall Street Journal (@WSJ) April 7, 2022
These people are basically hitting their head against a brick wall and think that this hasn’t worked because they haven’t hit their head against the brick wall hard enough.
These sanctions are only doing damage to the countries imposing them on Russia. The ability of the West to project its power is quickly fading because of this stupid decision.
