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Russian Rouble surges as Asian currencies slide

Local currencies around the world are losing value against a resurgent dollar. But the Russian Rouble has defied expectations to become the best-performing currency in the world.

Russia is raking in record oil and gas revenue 

Russian rouble hits near 7-yr high of 54.20 vs dollar | CNBC |

The reasons are, to put it simply: strikingly high energy prices, capital controls and sanctions themselves. 

Russia is the world's largest exporter of gas and the second-largest exporter of oil.
Its primary customer? The European Union, which has been buying billions of dollars worth of Russian energy per week while simultaneously trying to punish it with sanctions. 

That's put the EU in an awkward spot - it has now sent exponentially more money to Russia in oil, gas and coal purchases than it has sent Ukraine in aid, which has helped fill the Kremlin's war chest.

'Sapere aude'
by Oui (Oui) on Fri Jun 24th, 2022 at 12:53:07 PM EST

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