Russia's economy is currently under significant strain due to soaring inflation and the impact of U.S. sanctions. In response, President Putin has mandated that gas exports to Hungary and Slovakia be conducted in rubles, aiming to stabilize the currency.
The CEO of Sberbank, German Gref, has indicated that a fair exchange rate for the ruble is between 100-105 per dollar, with projections suggesting a potential rate of 112-115 by the end of 2025. The central bank is urged to raise key interest rates to combat inflation and curb the ruble's decline.
These economic pressures pose daunting challenges for the Kremlin as it navigates a complex financial landscape.
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