By takumihamano 
The Russian ruble has been a focal point in recent trade discussions and economic developments. Here are some key updates and insights into the current situation:
- USD/RUB Exchange Rate Dips Below 81: On April 18, 2025, the USD/RUB exchange rate fell below 81 RUB on the Russian interbank market for the first time since March 2025. This indicates a strengthening of the ruble against the dollar, with the rate decreasing by 1.4% to 80.875 RUB as of 10:40 Moscow time. By 10:55 Moscow time, the decline slowed, reaching 81.08 RUB (-1.15%). The EUR/RUB exchange rate also decreased by 1.16% to 92.223 RUB.
-
Russian Stocks Rebound: After a two-week slump, Russian stock indices closed higher. The MOEX Index increased by 0.61% to 2,746.41 points, and the RTS Index rose by 1.46% to 1,012.33 points. The yuan-to-ruble exchange rate increased by 3 kopecks to 11.61 RUB. Leading the market’s growth were companies like M.Video (+6.25%) and Polyus (+4.09%).
-
Kremlin Confirms US Talks on Potential Russian Oil Tariffs: Kremlin spokesperson Dmitry Peskov confirmed ongoing contacts with the US regarding potential secondary tariffs on Russian oil. These discussions follow statements by the US leader about imposing tariffs if the Ukraine conflict resolution fails. Peskov described the negotiations as complex and requiring significant effort.
-
Russia’s Scrap Metal Consumption to Plunge by 20% in 2025: Russia’s scrap metal consumption in 2025 is projected to decrease by over 20% year-on-year, reaching 16-17 million tonnes. This decline is attributed to lower-than-anticipated demand from steelmakers, who are reducing steel output. Export restrictions and global market surplus risks further constrain scrap metal exports.
-
PhosAgro Stock Soars 8.4%: PhosAgro, a Russian mineral fertilizer producer, saw its stock price surge by 8.4%, reaching RUB 6968 per share. This increase followed a US statement regarding the facilitation of Russian access to ports and payment systems for food and fertilizer exports. The US announced an agreement with Moscow and Kyiv to ensure Black Sea shipping safety and help restore Russia’s access to global agricultural product and fertilizer export markets.
-
MinFin Outlines Terms for Foreign Companies’ Return to Russia: The Russian Ministry of Finance (MinFin) has drafted terms for the return of foreign companies to Russia. The government commission will review the draft this week. Existing conditions for foreign businesses leaving Russia remain unchanged.
In summary, the Russian ruble and trade landscape are experiencing significant shifts. The ruble’s strengthening against the dollar, the rebound in Russian stock indices, and ongoing negotiations with the US regarding oil tariffs and trade facilitation are key developments. Additionally, the projected decline in scrap metal consumption and the surge in PhosAgro’s stock price highlight the dynamic nature of Russia’s economic environment. These factors collectively shape the current and future prospects of trade involving the Russian ruble.