US EditionSanctions Drive Ruble Over 50% in Export Payments for First Time
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For the first time, more than 50% of Russian exports are being paid in roubles, according to the central bank, reflecting a decisive advance in Moscow’s dollarization strategy. This trend was consolidated between April and May 2024, driven by Western sanctions that excluded Russian banks from the SWIFT system, forcing Russia and its partners to adopt national currencies in their transactions. Ruble already dominates in regions such as Oceania (9…
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