Al-Marsad newspaper: The American expert on finance, Axel de Ferno, explained that the additional strengthening of the ruble will lead to additional costs for the West when buying Russian energy resources.
De Verno indicated in an article published by the newspaper “The National Interest”, that the decision of Russian President Vladimir Putin to accept payment for gas in the Russian currency led to a significant strengthening of the ruble, according to “Novosti”.
He continued, “The burden on the West, which was forced to accept Putin’s mechanism, will become more painful… If the ruble continues to strengthen in the coming months, Western countries will have to incur additional costs of converting their currencies into the ruble to pay for the import of energy resources that cannot be compensate it.”
He continued, “Such a development in events will increase the demand for the Russian currency in the world, and will also show the ineffectiveness of Western sanctions against Russia.”