{"id":1444324,"date":"2022-04-18T14:45:08","date_gmt":"2022-04-18T18:45:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1444324"},"modified":"2022-04-18T14:45:18","modified_gmt":"2022-04-18T18:45:18","slug":"russian-ruble-loses-totally-free-convertibility-status","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/russian-ruble-loses-totally-free-convertibility-status\/","title":{"rendered":"Russian Ruble Loses Totally free Convertibility Status"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frussian-ruble-loses-totally-free-convertibility-status%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1444324&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><figure class=\"wp-block-image alignwide size-full\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/r.jpg\"><\/a><\/figure>\n<p><em>Please Follow us on\u00a0<\/em><a href=\"https:\/\/gab.com\/Tsarizm\"><em>Gab<\/em><\/a><em>,\u00a0<\/em><a href=\"https:\/\/www.minds.com\/LToddWood\/\"><em>Minds<\/em><\/a><em>,\u00a0<\/em><a href=\"https:\/\/t.me\/CreativeDestructionMedia\"><em>Telegram<\/em><\/a><em>,\u00a0<\/em><a href=\"https:\/\/rumble.com\/c\/CDMedia\"><em>Rumble<\/em><\/a><em>,\u00a0<\/em><a href=\"https:\/\/tv.gab.com\/channel\/CreativeDestructionMedia\"><em>Gab TV<\/em><\/a><em>,\u00a0<\/em><a href=\"https:\/\/gettr.com\/user\/cdmedia\"><em>GETTR<\/em><\/a><em>\u00a0<\/em><\/p>\n<p>As Western sanctions begin to bite down on the Russian economy, Russian independent news outlet The Bell provided some insight into the ruble losing freely convertible status due to financial pressure coming from Western capitols over the Kremlin\u2019s invasion of Ukraine. <\/p>\n<p>\u201cThe ruble is no longer a freely convertible currency,\u201d [former Finance Minister Alexei] Kudrin\u00a0<a href=\"https:\/\/thebell.us15.list-manage.com\/track\/click?u=b530a21bdb66886faa9d1b7fd&#038;id=c5e1ff2629&#038;e=a4a87db0ba\" rel=\"noreferrer noopener\" target=\"_blank\">admitted<\/a>\u00a0Tuesday to journalists. Prior to late February, the ruble was one of the world\u2019s few dozen fully convertible currencies \u2014\u00a0not even the Chinese renminbi enjoyed such a status, wrote The Bell.<\/p>\n<p><em>Even Kudrin \u2014 who is considered to be close to Russian President Vladimir Putin \u2014\u00a0was unable to hide his disappointment. And it was deeply symbolic that it was Kudrin who was the first official to talk publicly about the end of the convertible currency era. Finance minister in 2006 when the ruble gained its freely convertible status, Kudrin\u00a0<a href=\"https:\/\/thebell.us15.list-manage.com\/track\/click?u=b530a21bdb66886faa9d1b7fd&#038;id=231ffafa83&#038;e=a4a87db0ba\" rel=\"noreferrer noopener\" target=\"_blank\">said<\/a>\u00a0last year in an interview that this achievement was one of his proudest moments in government.<\/em><\/p>\n<p>\u201cThe convertibility of the ruble will remove all barriers to investment,\u201d Kudrin<a href=\"https:\/\/thebell.us15.list-manage.com\/track\/click?u=b530a21bdb66886faa9d1b7fd&#038;id=94242079e8&#038;e=a4a87db0ba\" rel=\"noreferrer noopener\" target=\"_blank\">\u00a0said<\/a>\u00a0in 2006 shortly after the status was confirmed. \u201cIt makes the Russian market more attractive\u201d.<\/p>\n<p><em>Planning to make the ruble convertible again is something from the realms of fantasy. For a start, currency controls would have to be removed. As sanctions continue to tighten, that is totally unrealistic. \u201cWithout some kind of geopolitical normalization, removing currency controls could prompt an uncontrollable capital outflow and an increasing risk of financial instability,\u201d a source at a foreign financial institution told The Bell.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Please Follow us on\u00a0Gab,\u00a0Minds,\u00a0Telegram,\u00a0Rumble,\u00a0Gab TV,\u00a0GETTR\u00a0 As Western sanctions begin to bite down on the Russian economy, Russian independent news outlet The Bell provided some insight into the ruble losing<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1444324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1444324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1444324"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1444324\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1444324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1444324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1444324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}