The Russian ruble has got stuck in dire straits amid the slump in oil quotes. In fact, the marginal bounce of both assets could be hardly termed an upward correction. Meanwhile, market participants are speculating on whether the oil and the ruble have already reached the bottom. The pre-Kremlin Russian media assured jaded people that the ruble was about to recover, trading higher at 72 against the US dollar and 81 against the euro. However, after the futile correction the ruble tumbled even deeper. The central bank is poised to stay away from the havoc for a while, saying that there are enough tools at its disposal to deal with the situation. Bank of Russia Vice Governor Kseniya Yudaeva stated that the regulator would make every effort to cushion the national financial system and economy from the external shocks. The authorities have devised an extra stimulus package to shore up the branches hurt by the coronavirus, including the travel business, pharmaceutical industry, and medical engineering. Nevertheless, the ruble is still extending weakness as crude oil has been trapped at multi-year lows. However, dismal prospects of the oil market do not discourage Russian lawmakers. Andrey Makarov, a deputy of the State Duma, points out that Parliament is introducing amendments to the budget exactly following the President’s directives so that not a single ruble will be wasted. It guarantees that all commitments, including public spending, will be fulfilled.