The Kremlin is not concerned about another collapse of the Russian ruble, quite the reverse. The logic is that the weaker the ruble, the more money there is in the budget. The government draws up the budget mainly through the revenue of natural resources sold to foreign partners in a foreign currency, and provides pensions, salaries, and other social payments to the local population in rubles. According to this scheme, the weaker ruble is highly advantageous for the government. Therefore, they have nothing to worry about.
That’s the kind of a paradox. Answering the question whether the Kremlin is worried about the weakening of the ruble, press Secretary of the President of Russia Dmitry Peskov stated: "No, this is average daily volatility". Actually, this "average daily volatility" has lasted for four years, but the Kremlin is indifferent. Dmitry Peskov clarified that "it is a process that we have been witnessing recently, market processes, you know that there is a weakening of the ruble", and reassured people, noting that "then a correction may occur." "These are natural market processes," the Kremlin spokesman stressed.
The US sanctions were the main reason for the weakening of the Russian currency. Following other countries, Washington imposed them on the basis of the accusations of Russia's involvement in the Skripal case. In this case, sanctions can be regarded as useful, because the depreciated ruble may even be beneficial to the Kremlin at this difficult time.
