Ruble Trading Plummets 96% as Western Sanctions Tighten Grip
WASHINGTON – Trading volume for the Russian ruble has collapsed by 96%, signaling a dramatic constriction of foreign exchange activity linked to the Russian economy. The decline underscores the impact of international sanctions imposed following the invasion of Ukraine, effectively isolating Russia from key global financial markets.
Recent data reveals a stark contrast between the scale of the Russian economy and its current accessibility in international trade. World GDP is projected at $117 trillion in 2025, while all physical money in banks, bills, and coins totals approximately $50 trillion. Global goods and service trade reached $33 trillion in 2024, with circulating bills and coins amounting to roughly $8 trillion.
The IMF’s World Economic Outlook database places total global GDP at $117 trillion this year,with the U.S. contributing $30.6 trillion, China $19.4 trillion, the EU $21.2 trillion, Japan $4.3 trillion, the U.K. $4.0 trillion, and all other countries $36 trillion.
UBS’s 2025 Global Wealth Report estimates total global wealth at approximately $475 trillion, representing 92% of all privately held world wealth (excluding government assets), perhaps reaching $515 trillion when accounting for the remaining 8%.
These figures highlight the relative diminishment of Russia’s financial footprint as international trade and investment flows increasingly bypass the country.The data was released by Ed Gresser, Vice President and Director for Trade and Global Markets at PPI, in the latest edition of the association’s Trade Fact of the Week.
