... exchange reserves can decrease, and the demand for the ruble falls. Low prices for export goods: Russia, as an exporter of oil and gas, is faced with the fact that when prices for these resources fall, the inflow of currency into the country decreases. As a ... ... to make domestic goods more competitive on the international market. How does devaluation affect the Russian economy? Rising import prices: When the ruble loses its value, imported goods become more expensive. This means that Russians spend more on foreign-made ...

... traditionally sell currency to pay taxes, increasing demand for rubles. Rising Commodity Prices The increase in the prices of oil, gas, and gold — Russia's main export commodities — supports currency inflows and strengthens the ruble. High Interest Rates ... ... stability of the exchange rate. High Volume of Settlements in Rubles An increase in transactions in the national currency for imports reduces dependence on foreign currencies. Positive Trade Balance A surplus of exports over imports ensures a stable inflow ...

... association, to RBC. "Therefore, the fact that prices are not rising further can already be called a victory. Accordingly, when September and October come, we will see a fairly active reduction in wholesale prices, as consumption will drop. And most importantly, gas stations will not increase their losses from retail fuel sales," the expert believes. AI-95 gasoline is not accounted for in the calculations of the damping mechanism, which makes it difficult for the government to "manage" the rise ...

... allowing refineries to export provided that at least 50% of production was sold on the domestic market. The embargo was implemented to ensure fuel availability on the domestic market and reduce wholesale prices, which were pushing up retail prices at gas stations. To stabilize the internal fuel market, the government also took other important steps, such as raising payments to oil producers under the damper mechanism (budget compensation for refineries to offset the difference between domestic and export prices of petroleum products) and increasing the trading volume requirements ...

... introduction of new US sanctions against Russia in November 2024 dealt a serious blow to the economy. The sanctions affected key sectors and restricted access to international financial markets. Decline in Export Revenues Falling global prices for oil and gas, along with a reduction in their export, diminished the inflow of foreign currency into Russia. Monetary Policy The Central Bank maintains the key interest rate at 21%, which curtails economic activity but does not stop capital outflows. Increase in Imports The gradual recovery of demand for imported goods increased the need for foreign currency, putting additional pressure on the ruble. Forecasts for 2025 Reuters Forecasts the dollar exchange rate to be between 100 and 108 rubles by the end of 2025....