Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Ruble Weakens Over Concerns of New U.S. Sanctions

Russian ruble and U.S. dollar banknotes are seen on a table at a bank in Moscow.

The ruble weakened on Monday, trading near the record lows against the dollar that it hit in the previous session, with investors concerned about possible new U.S. sanctions against Russia over Ukraine.

At 0745 GMT, the ruble was 0.3 percent weaker at 58.33 against the dollar and 0.5 percent weaker at 72.66 versus the euro.

After Russian markets closed last week, the U.S. Congress passed a bill setting out tougher sanctions on Moscow and authorizing the supply of military aid to Ukraine.

The bill "will be negative for market sentiment," analysts at Sberbank investment research wrote in a note.

A modest recovery in crude prices, whose sharp fall has — together with sanctions — been the main cause behind the ruble's slide, kept the currency's losses in check.

Russian shares were mixed, tracking developments in the currency market. The dollar-based RTS index was 0.6 percent down at 794 points and the ruble-traded MICEX, up 0.8 percent at 1,472 points.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more