Thursday 15 April 2021 8:52 am

Russian rouble tumbles as threat of US sanctions resurfaces

The Russian rouble fell two per cent against the dollar on Thursday, giving up gains made earlier this week as the threat of US sanctions on Moscow reared its head again.

The US may announce sanctions on Russia as soon as today for alleged interference in its elections and malicious cyber activity targeting several individuals and entities.

One source said aggressive new measures targeting Russia’s sovereign debt were expected.

By 07:11 GMT, the rouble was 1.4 per cent weaker against the dollar at 76.92, falling well away from the two-week high hit in the previous session.

It had lost 1.4 per cent to trade at 92.20 versus the euro, earlier clipping more than a five-month low of 92.85.

Russian sovereign bonds lost 2.8 cents, hit by the report on new sanctions.

A phone call between Vladimir Putin and Joe Biden on Tuesday had eased fears of imminent sanctions, where the rouble was boosted by the latter’s proposal for the two leaders to hold a summit to tackle a raft of disputes.