=== In other words, no-one is buying rubles. ===
Yes-yes. No one buys. Exactly that why today Italian PM Drahi told today "to buy gas for rubles doesn't break sanctions". Exactly that why demands of rubles pushes rubles stronger. And off-shore demands are even stronger than on-shore. See Bloomberg
https://www.bloomberg.com/news/artic...et-split-grows
Your quote are one month old, but situation changing every day. First it was "Nobody will buy gas, oil and so on", then was situation "Nobody will buy oil" - when EU realized what it can't survive without Russian gas. Late there was situation "Nobody will buy gas for rubles"...
Wait for 2-3 months. You will hear at first "nobody will buy Russian wheat". then it will be changed to "Nobody will buy Russian wheat for rubles".... and then again ruble will became stronger, because Russia is responsible for 25% of World wheat export, where prices for wheat are already 60% higher than in 2021...
I told in December yet, when here were a lot of gentleman with high razed chins and too much proud about own economy: nobody can exclude Russia from global economy - Russia is world global supplier on many critical markets, that why sanctions are supported only by 19% of World nations.