Ruble Bucks the Oil Price Rally Thanks to Geopolitics

Ruble Bucks the Oil Price Rally Thanks to Geopolitics

(Bloomberg) -- The ruble has bucked the rally in oil prices over the past year. Partly that’s because geopolitical risk has come to the fore, clouding what would otherwise be a stable outlook for Russia’s economy, according to Bloomberg Economics. The government has also been trying to break the link with crude by channeling excess energy revenue into reserves since 2017.

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