Reuters: Rouble hits 2015 level against euro as EU prepares to pay for gas
(Reuters) -The Russian rouble rallied to its strongest levels against the euro and dollar since June 2015 and March 2018 respectively on Friday, which analysts attributed to EU countries preparing to pay Russia for gas and to capital controls imposed by Moscow.
Russia said on Thursday that half of gas giant Gazprom's 54 clients have opened accounts at Gazprombank, as European companies approach imminent deadlines to pay for their gas supplies.
Opening such accounts became possible after EU executives allowed member states to keep buying Russian gas without breaching the slew of sanctions they have collectively imposed on Russia over what Moscow calls its "special military operation" in Ukraine that started on Feb. 24.
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WNU Editor: So much for President Biden's "ruble to rubble" narrative just a few weeks ago...
As a result of our unprecedented sanctions, the ruble was almost immediately reduced to rubble.
— President Biden (@POTUS) March 26, 2022
The Russian economy is on track to be cut in half.
It was ranked the 11th biggest economy in the world before this invasion — and soon, it will not even rank among the top 20.
Russian Ruble Hits A Seven Year High Against The Euro
Ruble Hits 7-Year High As Gas Buyers Bow To Putin's Payment Mandate -- Zero Hedge
Russia Ruble (RUB USD) Price Quote Surges to 7-Year High -- Bloomberg
As inflation slows and the ruble rallies, Russia is hoping to avoid a financial crisis -- CNBC
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