The clearest signal that Russia is losing this war? #Russia Ruble weakened beyond 100 per Dollar for 1st time in 17mth, extending a slide that threatens to stoke inflation in an economy that has been kneecapped by Western sanctions. Ruble has fallen 27% vs Dollar YTD & 23% vs Chinese Yuan, which Russia is embracing for trade as it seeks to ditch Western currencies.
On the contrary, I fail to see any relevance to war. Russia is a huge exporter of energy and food. It has trade and fiscal surpluses, and the lowest debt to GDP of any large state. If inflation reaccelerates in energy and food, as Asia stockpiles for the AUKUS+ war, Russia gains.