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Russia is backing it up with Gold. Gold is accepted everywhere in the world, this makes the Ruble stable.

Edit: Watch this video for more info: https://www.youtube.com/watch?v=6SjvimH42po

Thanks for the video link, I think gold is the most plausible explanation why Russian currency is still stable albeit plunging in the initial stage of the war. Iran has been doing it for a long time, and even selling their oil and gas using gold not US dollars [1].

[1]Turkish-Iranian gold trader's ‘Beautiful Mind’ testimony drove U.S. sanctions case:

https://finance.yahoo.com/news/gas-gold-turkey-iran-scheme-e...

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