MOSCOW: The rouble eased against the dollar on Wednesday, mirroring moves in other emerging market currencies and shrugging off higher oil prices amid lingering geopolitical risks.

At 1424 GMT, the rouble was 0.6% weaker against the dollar at 74.11, moving away from the 73.1250 level touched on Monday, its strongest since Jan. 14.

The rouble gained 0.1% to trade at 89.22 versus the euro , but remained under pressure from risks of new sanctions against Moscow. When prices for oil, Russia's key export, hovered around current levels of near $64 per barrel last year, the rouble was around 62 to the dollar.

Locko Invest analysts expect the rouble to stay within a range of 73-74 against the greenback in the near term.

"Local factors such as upcoming tax payments and improved balance of payments should give support (to the rouble)," they said.

The rouble saw limited support from demand for OFZ treasury bonds that have been popular among foreign investors thanks to their lucrative yields.

The finance ministry raised a cumulative 81.5 billion roubles ($1.10 billion) at two such auctions, enjoying demand of nearly 159 billion roubles.

Russia's largest state-run lenders, Sberbank and VTB, said on Tuesday they will help the finance ministry plug holes in the state budget this year by buying its OFZ bonds.

The dollar-denominated RTS share index fell 1.7% to 1,468.9 points. The rouble-based MOEX Russian index was 1.2% lower at 3,452.7 points.