RUSSIAN Ruble Dead as a Currency #shorts #russia #russianeconomy #russiaukrainewar #ruble
Video Summary
Russia’s plan to establish the ruble as a premier global currency has been dealt a significant blow. Despite initial efforts to make it a widely accepted currency, particularly in the energy sector, Russia’s two largest trading partners, China and India, have rejected the proposal. They prefer to deal in their own currencies, rather than accumulating or paying in rubles. This refusal has resulted in a significant decrease in the demand for the ruble over the past two and a half years, leaving the currency in a precarious position. As a result, the ruble is now at risk of becoming a currency with limited international use, with most countries preferring to avoid it. This setback has undermined Russia’s efforts to bolster the ruble’s status, leaving it vulnerable to becoming a currency that is only used domestically, rather than a widely accepted global currency.
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