The EU’s foreign policy chief, Josep Borrell, has commended the Russian ruble on its resilience in the face of international sanctions, imposed in light of the ongoing military conflict in Ukraine.
“The ruble has shown a strong resistance capacity. Putin now insists that they pay him for gas in rubles to maintain the currency. We’ll see what happens,“ Borrell told Spanish COPE outlet on Tuesday.
The statement comes as the ruble has recently made a recovery and bounced back almost to its value in February, despite tsweeping sanctions imposed by the West over Moscow’s military offensive in Ukraine.
Previously, the Polish PM Mateusz Morawiecki used the currency’s position as evidence of Western sanctions having no effect on Russia. “I must say this very clearly: The sanctions we have imposed so far don’t work. The best evidence is the ruble exchange rate,” said Morawiecki on Saturday.