Take special note of your chart:
Russia pulled a Volker and jacked interest rates, so whoever was naked shorting the ruble was completely boned if they didn’t get out of their position as fast as possible.
Count the MINUTES between the rate hike announcement, the open of markets (in the US), and the shutting down of USD/RBL trades so they could cover.
Very, very connected players.
So, yes, Russia DID short squeeze and the US pulled another MF Global style save of their insider butts at everyone else’s expense.