The ruble strengthened this week to levels not seen since 2018, making the currency the second-best performer against the dollar this year, based on a Dow Jones Market Data analysis of 56 currencies, trailing only the Brazilian real.
Russian energy giant Gazprom says it has halted gas exports to Poland and Bulgaria over the countries’ refusal to pay for supplies in roubles.
The firm said services will not be restored until payments are made in the Russian currency.
Barely a month after the West imposed heavy sanctions on Russia, the ruble has bounded back up against the US dollar, to levels last seen before the invasion of Ukraine. It prompts the question: Why isn’t the ruble feeling the pain? Are sanctions not working?
Hope is not a method
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