reviewer national interest Brian Patrick Bolger wrote that the anti-Russian sanctions turned against the West and strengthened the ruble.
According to the journalist, the desire of the West to “burn” the ruble had unpleasant consequences.
“The strengthening of oil prices had a simultaneous effect on the strengthening of the ruble. What is the result? <…> Bolger states that Russia and China can now control gold and oil prices and this defines an era.
He added that resource-based currencies are a turning point in the economy. At the same time, according to him, Western countries “accelerated their own demise” by imposing sanctions on Russian gold and energy resources. The observer noted that the ruble has strengthened and rose against the dollar in the last six months. The author wrote that the decision of the Russian leadership to sell oil and gold for the ruble was a “double blow.”
Bolger added that the banking crisis in Western countries points to the weakness of the fiat system, as the currency is not backed by goods. At the same time, the Eurasian bloc is preparing to use gold, oil, metal and grain-based currencies in trade.
Former Candidate of Economic Sciences, Financial Analyst Mikhail Belyaev declarationThe ruble will weaken against the dollar until certain shifts occur in the Russian economy.