The Russian ruble on Thursday closed at its highest level in several months.
Russia’s stock market surged on Thursday following President Donald Trump’s announcement that he spoke with Russian President Vladimir Putin on the phone about ceasefire negotiations in Ukraine.Why It Matters
Following Putin’s invasion of Ukraine in February 2022, Russia became the world’s most-sanctioned country as punishment, according to the Carnegie Endowment for International Peace.
Russia was also kicked out of the SWIFT global banking system, while Western nations froze Russia’s access to some of its foreign reserves, and Europe froze purchases of Russian oil and gas. An increase in military spending has added further strain on the Russian economy.What To Know
On Wednesday, Trump posted on Truth Social that he and Putin spoke in a « lengthy » phone call earlier in the day. The Kremlin reported that the call lasted approximately 90 minutes and that the two leaders had agreed to meet.
