Russian Prime Minister speaks about causes of ruble devaluation

According to Prime Minister Dmitry Medvedev’s statement today, the reasons for the ruble devaluation are the fall of oil prices in the world and devaluation of the national currencies of China and Kazakhstan, as well as Western sanctions. 

"The reason for the weakening of the ruble in recent years is linked with the fall in oil prices. I must admit that it is the lowest point of oil prices over the last six years. If we compare these prices in respect of the change in the dollar exchange rate with the prices that existed in the 80’s and in the early 90’s, we can come to the conclusion that it is generally one of the lowest points during the past 30-40 years. It isn’t the lowest, but still very low,’’ Medvedev said, adding that the situation with oil prices leads to a weakening of the ruble, Tass reports.