Meaning of petroruble | Babel Free

Definitions

Money in rubles earned from the sale of oil.

rare

Examples

“Nevertheless, even this growth rate may lead⟳ to a serious deterioration in the terms of trade⟳ for Eastern Europe and may demand⟳ greater Soviet financial assistance in default of higher Soviet subsidies and a recycling of petrorubles earned from the export of oil, perhaps in the form⟳ of low interest⟳ rate trade⟳ credits.”

“The petroruble euphoria is a thing of the past. Yet food imports have⟳ increased and continue⟳ to be used to "patch" the holes in the country's domestic market. They account for about 20 percent of all Soviet imports, an exceptional figure⟳.”

“If Sechin decides to sell⟳ this Iranian oil for rubles, through a Russian exchange⟳, such a move⟳ will boost⟳ the chances of the 'petroruble' and will hurt⟳ the petrodollar.”

“and even that the Putin government in Moscow was mulling the idea of introducing aspecific oil-trading currency tentatively dubbed the "petroruble."”

CEFR level