New Delhi, Apr 07: The Ruble was dubbed as rubble by US President, Joe Biden ever since the war in Ukraine began.
Following the military action by Russia, scores of sanctions followed. This sank Russia to a record low of 121.5 Rubles per dollar. However that has changed now and the Ruble surged back to where it was before the war in Ukraine began. The Ruble closed at 79.7 in Moscow on Wednesday.
This brings us to the question about the impact the sanctions have had on Russia. It becomes clear that the actions are toothless. The West continues to consume Russian gas and oil and this has supported the Ruble.
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