Russia: Ruble Vs Dollar

The Russian parliament may pass a law banning price-setting in foreign currencies. Vilhelm Konnander comments ^[1] on the implications of such a law: “Banning public use of dollar or euro denominations will have absurd consequences. Looking only at president Putin's recent annual address to the State Duma, it would have rendered him a considerable fine, judging from the number of times he used the “d” word. The new law may also create considerable confusion at the upcoming G8 Summit in Petersburg, as the Duma has recommended the Russian delegation only to use rouble denominations when presenting financial data.”