Ruble is BACK: is Russia recovering from the sanctions?
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Recently on this channel I've been covering the sanctions against Russia that started after the events in Ukraine, including the SWIFT cut-off and Russia getting "canceled", with tons of Western companies such as McDonalds and Apple leaving Russia. Obviously, with such big hits to the Russian economy, the Russian currency Ruble also suffered a big hit and almost crashed twofold in price. However, it seems that 2 months later the ruble is back: not only has it recovered to what it was at the start of the year, but actually managed to become even stronger, going from trading at 140 for 1 USD to 70 for 1 USD. How is this possible and how did this even happen? Does this really mean that Russia is recovering from the Western sanctions? Well, it's not that simple. Let's walk around the beautiful Tbilisi, Georgia and talk about it.
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