National Interest columnist admits Western countries’ financial losses as ruble strengthens

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Columnist Axel de Vernou in his article for the American edition national interest If the ruble continued to strengthen, it allowed Western countries financial losses.

According to the author, a clear trend that has persisted throughout history is the correlation between financial and geopolitical power. Further strengthening of the ruble will entail additional costs for the West when purchasing Russian energy resources.

“The situation appears to have changed, perhaps not permanently, but in a way that should worry US policymakers. “The Sino-Russian alliance seeks to include other countries in an attractive alternative, with the ultimate goal of building a financial system completely independent of Washington’s control,” he said.

According to De Vernou, the ruble, which is dependent on energy prices, strengthened due to “the shortage of oil and gas in global markets”. And the decision of the government of the Russian Federation to pay for resources in the national currency made it possible to strengthen the position of the Russian currency.

“If the ruble continues to appreciate in the next few months, Western countries will have to spend more to convert their currency into rubles to pay for the energy imports they need. “This not only increases the global demand for rubles, but also shows other governments that the Russian currency can withstand penalties from major Western countries.”

Previously at the Central Bank reportedHe said the Russians have increased their demand for cash since the beginning of this summer. As a result, from June 1 to June 9, their volume in circulation increased by 150.4 billion rubles.

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