Russia’s ruble is soaring as Trump pushes for an end to the Ukraine war while Europe fears getting sidelined.FinanceRussia’s ruble is soaring as Trump pushes for an end to the Ukraine war while Europe fears getting sidelined.

Russia’s ruble is soaring as Trump pushes for an end to the Ukraine war while Europe fears getting sidelined.

February 17, 2025 1 min read

The ruble has been rallying sharply on signs that President Donald Trump is seeking a quick end to Russia’s three-year war on Ukraine.

On Friday, it jumped 3.7% to 90.50 against the US dollar after climbing 2.6% on Thursday. That came on news Wednesday that Trump had a lengthy call with Russian President Vladimir Putin, after which Trump said negotiations on the Ukraine war would start immediately.

Also on Wednesday, the ruble surged 3% after Russia released American teacher Marc Fogel, who was arrested in 2021. The moves added to previous gains that have lifted the ruble 20% since the start of the year, reversing an earlier crash toward the end of 2024.

Investors have been expecting improved US-Russia ties under Trump, who has been skeptical about the amount of military aid for Ukraine and critical of NATO allies.

Over the weekend, reports said Trump is sending top national security officials to Saudi Arabia for talks with Russian counterparts.

Source: FORTUNE

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