Russian Billionaire Criticizes Strong Ruble, Warns of Risks to Russian Economy
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Russian Billionaire Criticizes Strong Ruble, Warns of Risks to Russian Economy
The continued strengthening of the Russian ruble against the U.S. dollar is meaningless, and Russia's persistence in pursuing such a policy has surprised the global business community, Russian billionaire Oleg Deripaska wrote on his Telegram channel. According to Deripaska, neither Japan, South Korea, China, nor any other major export-oriented economy has ever pursued a strategy focused on strengthening its national currency in this way. The bus…
The founder of the Russian aluminum giant Rusal, Oleg Deripaska, warns that the strong appreciation of the ruble threatens the competitiveness of the Russian economy and could put up to 3 million jobs at risk. According to the businessman, the exchange rate of the Russian currency has reached about 72 rubles to the US dollar, the strongest level in the past three years. Since the beginning of the year, the ruble has appreciated by about 8.6% aga…
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