Russian rouble stable as thin market awaits Trump-Kim meeting

MOSCOW: The Russian rouble was steady on Wednesday, awaiting like other  markets a meeting between U.S. and North Korean leaders.

U.S. President Donald Trump and North Korean leader Kim Jong Un will hold their second summit in the Vietnamese capital of Hanoi on Wednesday and Thursday.

The market took a pause because of the summit and important data from the United States during the week, analysts at Promsvyazbank said.

Russian market focus is also on the finance ministry's two auctions of OFZ treasury bonds later in the day.

At 0756 GMT, the rouble was 0.05 percent weaker against the dollar at 65.74 and up 0.02 percent at 74.82 versus the euro.

The rouble was supported by higher oil prices.

Brent crude oil, a global benchmark for Russia's main export, was up 0.51 percent at $65.54 a barrel.

New U.S. sanctions against Russia are still one of the main risks for the rouble. A bill containing new sanctions on Russia over its alleged meddling in U.S. elections and intervention in Ukraine was officially published on Tuesday.

"The bill raises attention to the investigation of Russia's meddling in elections, and if this fact is acknowledged, it may speed up the process of adoption of the sanctions," analysts at Rosbank said in a note.

The bill does not mention any harsh sanction proposals for  Russian banks, supporting their shares. Sberbank, Russia's biggest bank, was up 0.15 percent, while VTB  added 0.47 percent.

The bill says that 90 days on from the enactment of the bill known as DASKA, Trump will impose sanctions on any Russian financial institution that he believes has, on or after such date of enactment, provided financial or other support for Russia interfering in the democratic process or elections of any country other than its own.

Russian stock indexes were up.

The dollar-denominated RTS index was up 0.31 percent to 1,196.78 points. The rouble-based MOEX Russian index was 0.12 percent higher at 2,497.05 points.