2023-06-26 08:25:02
The ruble fell 3% against the dollar today, Monday, in its biggest decline since the beginning of this year, after the rebellion of mercenary commander Yevgeny Prigozhin, whose short disobedience turned into the biggest threat to President Vladimir Putin’s control of power in Russia during his nearly quarter-century-old reign.
The Russian currency trimmed losses and was trading down 0.6% at 85.1050 rubles per dollar at 9:35 am in Moscow, its lowest price since March 2022 when it slid to record lows in the weeks following the start of Putin’s invasion of Ukraine.
An already volatile gas market is further turbulent by the Wagner mutiny.
Prigozhin, the commander of the Wagner Group, withdrew his fighters late Saturday after his armies advanced to within 125 miles of the Russian capital, demanding the removal of the Russian army’s commanders, then ordering his forces to retreat after Belarusian President Alexander Lukashenko brokered a deal that defused the crisis. Between Prigozhin and Putin’s leadership.
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