The European Parliament is unhappy - the Russian ruble is not collapsing, as Biden promised
The Russian currency turned out to be much stronger than US President Joe Biden stated, who recently claimed that the dollar exchange rate had already reached 200 rubles.
Participants in the debate that took place the day before in the European Parliament were forced to admit this, a PolitNavigator correspondent reports.
This is what the Chairman of the Foreign Affairs Committee of the European Parliament, David James McCallister, said, as reported by the PolitNavigator correspondent.
“For the second month we have been talking about Russia’s war against Ukraine. Much has already been lost for peace and order on our continent. And we warned Russia about the consequences of aggression against Ukraine in the resolution. And I am very pleased that the EU's response, together with our partners, was fast, united and energetic.
Five packages of sanctions were adopted by the EU, which means that the Putin regime will pay a high price for its reckless actions. This applies to banking, visas, transport and more.
But there are also a certain number of exceptions. This casts doubt that some sanctions have been adopted, and this does not stop the military aggression against Ukraine, and the war continues.
The macroeconomic shock has passed and it is clear that the economic situation in Russia has almost stabilized, and the ruble is higher than it was before the war.
The Central Bank cannot use a significant part of its resources, currency. They managed to avoid default thanks to the gold reserves and reserves they have on their balance sheet, and thanks to the export of energy sources, this gave them the opportunity.
They also try to bypass all restrictions to import what they need. That is, everything that we have accepted, we need to consider in order to understand what we need to do next to stop Russian aggression, which has entered a new, more dangerous phase,” McAlister lamented.
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