The ruble has been surging since Trump returned to office. That could be bad news for Russia’s state budget. — Meduza

Since the start of 2025, the dollar has dropped nearly 18 percent against the ruble on the over-the-counter market, while the euro has fallen by 11.5 percent and the yuan by 15.3 percent. The ruble’s value has now risen for three months in a…

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