The Russian ruble is in a tough predicament against the euro

But bearish investors are looking for ways to recharge the commodity-linked currency in the trading sessions. The euro to Russian ruble exchange rate is forecasted to go down to its support level as bears hope for support from Russia. Just recently, it was reported that the Russian government is seeking to add around 1.9 billion US dollars in taxes from oil and gas. Reports say that the finance ministry of the country is looking to gain more tax proceeds by officially amending the tax code and the profit-based tax. This creates a rift between the government and the Russian oil industry, but bears are hoping that it could generate more funds to support the economy and buoy the ruble. And as for the euro, the notable performance of the eurozone’s economy is buoying the single currency against the Russian ruble, putting up a much tougher fight for bearish investors.