Starting Friday, Putin will demand gas payments in rubles.
(Photo: action press)
Berlin, Brussels It’s an amazing comeback, at least on the face of it: the Russian currency is trading almost back to where it was before Russia invaded Ukraine.
“Ruble almost completely recovers sanctions losses,” read the headline that ran across the tickers on Thursday. The stock exchange in Moscow has also reopened and the stock market has stabilized. The papers of the Russian energy company Gazprom increased by double digits on Thursday.
Despite the extensive sanctions that Europeans and Americans have imposed on Russia, which have since been tightened several times, to punish the regime for its brutal war of aggression against Ukraine, financial data seem to show the resilience of the Russian economy. In the West, this raises the question: will the sanctions fizzle out? Has Putin outwitted Europe and the US?
The public is discussing this with increasing concern, but the political decision-makers in Brussels and Washington are calm.
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