European Parliament puzzled: Russian ruble not collapsing, as Biden promised

Contrary to Joe Biden's promises, the Russian ruble turned out to be much stronger than everyone else thought. Not that long ago the US President claimed that the exchange rate of the US dollar had already reached 200 rubles per one US dollar.

This is acknowledged by the participants of the debate that took place on Wednesday, April 20, in the European Parliament.

Head of the EP's Foreign Affairs Committee, David James McAllister, said that Russia's operation against Ukraine had been the talk of the day for two months already. much had been immolated for peace and order in Europe.

McAllister said that five sanction packages had been adopted against Russia, and Putin's regime is sure to pay a high price for its actions.

However, the head of the Committee doubts that any sanctions have been adopted.
McAllister is dissatisfied with the fact that the macroeconomic shock has passed, and it is clear that the economic situation in Russia has almost stabilized. The Russian ruble has bounced back to its value that it had before the start of the special operation.

The Russians have avoided default thanks to gold reserves and energy exports.

"To get what they need they are also trying to circumvent all the import restrictions. In order to understand what we are to do next to stop Russian aggression, which has entered a new, even more dangerous phase, we are to reconsider everything we have already done”, McAllister summed up.