Ghose’s report is quite down-to-earth—oil prices can hold up for a while but not forever. With refinery explosions plus tighter sanctions, OPEC quotas won’t help, and by year-end the ruble will be under enormous pressure.

Crypto news: In a report, analyst Tatha Ghose of a German commercial bank said that energy prices have risen due to the situation in Iran, and Russia’s oil and gas revenue has recently improved significantly, providing support for the ruble. However, he said energy prices may fall again by the end of the year, and that damage to refineries caused by airstrikes in Ukraine, as well as the U.S. reimposing sanctions, are expected to prevent Russia from benefiting from OPEC+’s newly expanded production quota in the medium term. “Once the windfall brought by oil prices fades, we expect the (ruble) to resume depreciation.”