I think the debate boils down to The other side: The ruble is up. This is indeed strange, and no one really foresaw this result. Explanations range from Putin

I think the debate boils down to The other side: The ruble is up. This is indeed strange, and no one really foresaw this result. Explanations range from Putin has chosen to prop it up at the expense of other indicators to gaz trades are still high, and availability on foreign markets of rubles has dropped sharply. Your side: Putin has shown economic muscle that no one expected he would have. There are definitely eggs on the face of the western analysts. I don't see how both points are incompatible.