The Russian economy is facing great damage due to developments in global markets, and the oil policies of America and Saudi Arabia that may deprive the Russian treasury of important revenues, and deepen the troubles of the "ruble", so what will the future of the Russian currency be?

The writer Valery Tsigangov says in an article in the Russian newspaper Svabodnaya Brasa that the negative news that is falling from all parts of the world has caused great damage to the value of the Russian ruble, as on Monday saw a sharp devaluation of the currency, bringing the value of the US dollar to 75 rubles for the first time since April 22 Last April, before the Russian currency recovered some of its health.

Experts believe that this deterioration in the value of the ruble is caused by the turmoil in the world due to the Corona epidemic, and that all developments that the world is currently witnessing affect in one way or another the oil prices, to which the Russian economy is closely related.

"The programmed reduction in production will be record, but we must not forget the important surplus in the existing stock, which is holding up the price increase," says analyst at Price Futures Financial Advisors Group Phil Flynn.

For this reason, Sberbank (the largest bank in Russia) its financial outlook came pessimistic, as he believes that the ruble will continue to decline, bringing the annual rate of its value against the dollar to 70.7 rubles. They are expectations that have been modified due to recent developments in the market, especially with the continued spread of the Corona epidemic and the decline in demand for oil.

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Warning Warning:
Earlier, another CEO of "Sberbank" Hermann Griff warned against another worse hypothesis, namely the collapse of Russian Ural oil prices to reach below twenty dollars, and the value of the Russian currency to reach 100 rubles per dollar.

The author warns that the danger that Russia currently faces is the extent of the ability of the United States and Saudi Arabia to remove it from the oil market, at a time when Moscow's economy is heavily dependent on oil revenues.

"The majority of forecasts indicate that the situation will worsen in the remainder of the months of this year, and then improve rapidly in the next year," the newspaper quotes an analyst at the Russian Viennam Institution of Financial Advisers Alexei Korenev as saying.

Alexey Korenev adds that it is difficult at present to anticipate what will happen to the ruble and the dollar, developments in the labor market, the magnitude of the decline in GDP and the fate of SMEs.

Korinev warns that the fate of the Russian economy appears ambiguous, because there are questions about the position Moscow will occupy in the global economy, at a time when the United States and Saudi Arabia will seek to constrain and eliminate it from competition for the sale of oil, which is an existing hypothesis because the two countries have enough mechanisms to achieve this. .

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False stability
This analyst warns that the current situation is experiencing false stability, which can be considered the calm before the storm, as with the end of the second quarter of this year, most companies will return to activity, and then the true extent of financial problems appears.

This writer believes that Moscow may suffer more due to the efforts of Riyadh and Washington to exclude it from the global market, which is currently happening with the agreement of the "OPEC Plus" countries, which may end in obtaining the lion's share of the benefits, after Russia is forced to reduce its production, then They make up for that production.

Korenev also considered that the United States and Saudi Arabia are dealing very aggressively with Russia, and will try in various ways to keep it from competing to sell oil, because they view it as an unnecessary third party.

The author warned that the consumer behavior of citizens must be changed in order to save the economy, as every citizen must be satisfied with purchasing only the necessary goods, and not to return to some consumer behavior, such as buying iPhone phones, imported TVs and cars made in other countries.