Russia reportedly abandons its ruble-only plan in Kherson as Ukraine’s military continues to make gains

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Kherson Oblast, Ukraine on October 07, 2022.
Kherson Oblast, Ukraine.

  • Occupation authorities in Kherson introduced a dual-currency system that enables use of the ruble and hryvnia, the Institute for the Study of War mentioned.
  • The Kremlin beforehand ordered the transition to rubles beginning May 1, when the area was absolutely beneath Russian management. 
  • But Ukraine’s military has taken again massive swaths of southern and northeastern territory in latest months.

Russia is abandoning a plan that might implement a ruble-only fee system in occupied Kherson, in accordance to the Institute for the Study of War. 

“Occupation authorities in Kherson Oblast announced a dual currency system that allows the use of both rubles and hryvnya, unwinding a months-long effort to enforce rubleization in the oblast,” the think tank tweeted on Sunday, referring to the broader administrative area that features the town of Kherson.

The transfer marks one other setback for Russia’s conflict on Ukraine. The metropolis of Kherson was the primary main Ukrainian metropolis and solely regional capital that got here beneath Russian management in the early levels of the conflict.

The Kremlin’s state-run media mentioned earlier this yr that Kherson would use rubles for transactions starting May 1. A four-month transition interval was deliberate, throughout which the Ukrainian hryvnia would proceed to flow into.

But simply as these 4 months had been expiring, Ukrainian military launched a daring counter-offensive that has resulted in Russia withdrawing from massive swaths of territory in northeastern and southern Ukraine. 

Late final month, Russian President Vladimir Putin illegally declared the annexation of Kherson and different Ukrainian areas nonetheless beneath partial occupation, which means Moscow now considers them a part of Russian territory.

Meanwhile, Russian forces are nonetheless defending Kherson and officers mentioned Monday the motion of civilians out of the town is full, probably in help of plans to blow up the Kakhovka dam to cowl their withdrawal, in accordance to the ISW. 

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