The Russian ruble is falling due to sanctions against Ukraine and foreign companies such as Shell withdrawing their profits from Russia. Today, the ruble has hit its lowest level against the US dollar.
Since 2014, Russia has faced sanctions due to the political crisis in Ukraine. The US and EU have punished Moscow with sanctions for annexing Crimea and being accused of links to separatists in eastern Ukraine.
These sanctions have severely impacted Russia’s economy, causing the ruble, the country’s currency, to lose value. Today, the ruble hit its lowest level against the US dollar since 2021.
In addition, foreign companies’ decisions to withdraw their profits from Russia also contribute to the ruble’s decline. Some major companies, such as Shell, are reducing or withdrawing their investments in Russia, which weakens the ruble.
Experts say that sanctions against Ukraine and foreign companies withdrawing their profits are the main factors causing the ruble’s decline. However, due to the continued uncertainties surrounding Russia’s economy and the value of the ruble, predicting the ruble’s future has become more difficult.