A closed Uniqlo store at Artrium mall in Moscow on April 12. The import restrictions and high oil prices that have supported the rouble’s recovery could ultimately come back to damage the Russian economy. Photo: EPA-EFE
Opinion
Opinion
The View
How Russia’s rouble rebound masks real threat to its economy
- The rouble’s return to its pre-war exchange rate with the US dollar should not be mistaken as a sign of its strength or resilience
- Its recovery is a reflection of unprecedented restrictions on imports and higher oil and gas prices, which will become drags on the Russian economy
A closed Uniqlo store at Artrium mall in Moscow on April 12. The import restrictions and high oil prices that have supported the rouble’s recovery could ultimately come back to damage the Russian economy. Photo: EPA-EFE
