The US financial system has always seen the Russian ruble as the main counterpart. The Russian currency may have enough strength to end the US dollar's hegemony in the world economy. That is why the US is waging an economic war against the ruble and it seems the Western counterpart is losing it. Bradley Blankenship, an American journalist and political analyst, explained why the US plan to collapse the ruble failed. He noted that although the exchange rate of the Russian currency collapsed at first, it later stabilized, despite many economic restrictions from the West. This confirmed the Russian currency to be resilient. “US President Joe Biden, in his speech in Warsaw on March 26, said that thanks to Western sanctions, the ruble “turned into ruins.” This was an exaggeration, which today is faced with a harsh reality: since the beginning of the Russian military special operation in Ukraine, the ruble has almost completely regained its lost ground,” he said. According to Blankenship, the West once again overestimated its capabilities and failed to isolate the Russian economy from global markets. Besides, the Western countries still need Russian energy while Russia can easily find alternative markets. “Thus, thanks to the globalization of the world economy, many markets in different regions remain open for Russia. An important reason for the stabilization of the ruble was that deglobalization proved impossible,” the journalist concluded.
