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Mocked as 'rubble' by Biden, Russia's rouble comes roaring back
What's become clear is that despite an incredibly wide-ranging package of sanctions on the Russian government and its oligarchs, and an exodus of foreign businesses, the actions are largely toothless if foreigners keep guzzling Russian oil and natural gas — supporting the rouble by stocking Putin's coffers.
Even as Russia remains mostly cut off otherwise from the global economy, Bloomberg Economics expects the country will earn nearly US$321 billion from energy exports this year, up more than a third from 2021.
