"Former Kremlin Official Points Finger at Stranded Rupees in India for Ruble's Crash"

Former Kremlin official, Mikhail Zadornov, blames the recent crash of the ruble on Russia's accumulation of rupees that are stranded in Indian banks. Zadornov argues that the inability to convert these rupees into their own currency has left Russia with a surplus of inconvertible currency, contributing to the ruble's decline. He suggests that the Russian Central Bank intervene in the exchange rate markets and tighten monetary policy to stabilize the ruble. Russia and India are currently deadlocked in a currency dispute, which has also impacted weapons sales between the two countries.