Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Ruble, Oil Prices Fall Amid Trump Election Victory

Both Russian ruble and oil prices have started to fall on the heels of Republican billionaire Donald Trump's victory in the U.S. presidential election, Russian media reported Wednesday.

The ruble has fallen to 64 against the U.S. dollar and is predicted to reach 67 per dollar due to plummeting oil prices, the RBC news website reported.

Brent oil prices have reached the lowest point in the past three months, dropping 2.24 percent to $45.01 per barrel as of 9 a.m. Wednesday, the report said. 

Trump's victory will have a far bigger impact on Russia's financial markets than political turmoil in June, when Britain voted to leave the European Union, said Vladimir Evstifeyev, head of the analytical department of the Zenit bank. The fall is unlikely to last more than two weeks, he told RBC.

Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.