MOSCOW: Both the Russian ruble and main stock exchange gained about one percent of their value on Monday following the unveiling of fresh US sanctions which appeared less severe than feared in Moscow.
The Russian ruble rose to 35.85 from 36.05 against the dollar within minutes of the White House announcement.
The dollar-denominated RTS index shot up to nearly 1,140 points from the 1,113 mark at which it stood prior to the unveiling of US sanctions against seven officials and 17 Kremlin-linked firms that are meant to punish President Vladimir Putin's stance on Ukraine.
The punitive measures impose travel bans and asset freezes on companies and officials and also tighten licensing requirements for certain hi-tech exports to Russia.
But they do not impose sanctions on specific sectors of Russia's economy and leave the state-held natural gas giant Gazprom untouched.
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