Russian Ruble Disaster - Joe Blogs

[TexasTowelie]

The Russian ruble has surged in 2025 — up around 45% against the US dollar, making it one of the best-performing assets in the world, according to Bloomberg.

But this apparent strength is actually becoming a serious problem for the Russian economy.

In this video, I explain why a stronger ruble is damaging government revenues, hurting exporters, and undermining Russia’s budget, at exactly the wrong moment. I also break down new Reuters analysis showing that Russia’s tax receipts are expected to fall to their lowest level since 2022, with the biggest drop coming from mineral extraction taxes — a clear sign that Russia is not just earning less per barrel, but may also be extracting and selling less oil and gas.

Using simple worked examples, I show how:
• A stronger ruble means fewer rubles per barrel of oil sold
• Profits fall even if the oil price stays the same
• Tax revenues collapse as a result
• Falling energy demand compounds the damage

This isn’t a story about currency strength — it’s a warning about hidden economic weakness, falling demand for Russian energy, and growing pressure on the Kremlin’s finances.

Chapters:
0:00 Intro
1:04 RUBLE
5:39 2025
7:22 IMPACT
9:11 OIL
12:12 SANCTIONS
13:54 SUMMARY & CONCLUSION