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The rouble has fallen to its lowest levels in a year, at 80 roubles to the US dollar.

The devaluation of the Russian ruble has several geopolitical implications, both for Russia and the broader international community:

1) a weaker ruble makes Russian exports more competitive in global markets, which could potentially help the country’s struggling economy. However, it also means that imports become more expensive, which could lead to inflation and impact the purchasing power of Russian citizens. This could have social and political implications for the country, particularly if it leads to unrest or dissatisfaction with the government’s economic policies.

2) the devaluation of the ruble could have regional implications. Russia is a major player in the Eurasian Economic Union (EEU), which includes Armenia, Belarus, Kazakhstan, and Kyrgyzstan. A weaker ruble could lead to economic challenges for these countries, particularly if they have significant trade ties with Russia. This could lead to tensions within the EEU and impact Russia’s regional influence.

3) the devaluation of the ruble could have wider implications for the global economy. Russia is a major exporter of oil and gas, and a weaker ruble could impact the price of these commodities in global markets. This could have a knock-on effect on countries that are heavily dependent on energy imports, particularly in Europe.

 

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