The Russian rouble strengthened to a more than one-week high on Monday, brushing aside US President Donald Trump’s threat of imposing large-scale sanctions on Russia as Washington pushes Moscow and Kyiv to negotiate a peace deal.
The rouble is up against the dollar this year, mostly thanks to expectations of improved relations between Moscow and Washington that could produce some conflict resolution in Ukraine and possible easing of sanctions against Russia.
By 0841 GMT, the rouble was up 1.5% at 88.62 to the dollar in over-the-counter market trade, reaching its strongest level since late February.
Trump threatened Moscow with banking curbs and tariffs on Friday, days after pausing military aid and intelligence support to Ukraine, but has also offered a conciliatory view of President Vladimir Putin and his military tactics.
On Monday, Russian forces were advancing in the Kursk region.
“We do not believe that threats of tougher sanctions and negative rhetoric from the US authorities will rapidly escalate as negotiations with Russia are in the initial phase and our authorities are willing to negotiate,” said Promsvyazbank analyst Denis Popov.
Against the Chinese yuan, the most traded foreign currency in Russia, the rouble was up 0.5% to 12.07.
Brent crude oil, a global benchmark for Russia’s main export, was down 0.1% at $70.28 a barrel.
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