JRL NEWSWATCH: “U.S. Sanctions Give Russian Economy an Unintended Boost; For months, rising dollar-denominated oil prices, falling ruble have worked to Moscow’s benefit” – Wall Street Journal/ Avantika Chilkoti

Oil Well file photo

“U.S. sanctions have driven the price of oil and the ruble apart – leaving Russia with expensive crude and a cheaper currency … helping its economy. The price of oil, Russia’s main export, has risen almost 14% since mid-August. … largely because of the coming resumption of U.S. sanctions against Iran, choking off the supply of crude from that country. …[T]he ruble has declined 15% since April, when Washington imposed sanctions on Russia for alleged meddling in U.S. elections and other aggressions. … just as the price of dollar-denominated oil rises, those greenbacks are worth more when translated back into a weaker ruble. …”File Photo of Cash, Coins, Line Graph

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