A fall in the Ruble, depending on how management manage their FX exposure, particularly now, should be favourable assuming no corresponding adjustments to wages & other expenses, as US$ denominated revenues will generate greater Ruble income, but there are all sorts of pitfalls with currency management in the currency circumstances. The good news is have time to manage the risks, to the extent possible given the timing of the shipping season.
Ann: Tigers Realm Coal Update, page-28
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