Russia’s ruble slipped on Thursday after a new round of US sanctions against Moscow was announced, possibly targeting the country’s sovereign debt.
Ready to inaugurate Washington New arrangements The U.S. media has reportedly punished Russia for interfering in U.S. elections and hacking into the U.S., citing unnamed sources. They will target a number of individuals and entities and may include bans on business in the newly enacted state.
The ruble fell nearly 2.2 percent to dollar 5.5 in early trade on Thursday, with the Russian currency posting removed after a telephone conversation between US President Joe Biden and his rival Vladimir Putin on Tuesday, as the two leaders discussed. Possible joint summit The goal is to ease tensions between the two countries.
The new US sanctions package, which will be added to the broader list of first sanctions since Moscow joined Crimea in 2014, was long overdue.
Beadon administration was started Drawing arrangements Sources told the Financial Times in February that U.S. intelligence officials would punish Russia after a large-scale hack of at least nine federal agencies and about 100 agencies known as the Solarwinds hack, the source told the Financial Times.
The United States has also condemned the recent arrest and imprisonment of Russian opposition activist Alexei Navalny after he was rescued from a suspected assassination attempt, and has accused Moscow of threatening Ukraine by deploying thousands of troops along the country’s border in recent weeks.
“Biden seems to be the White House’s smart move,” said Tim Ash, a senior analyst at Blue Asset Management. “If Putin’s behavior is to happen, propose a summit some distance away. . . But Solarwinds, election mediation, and sanctions in Navalny’s near term hit him hard and even worse warned where he came from if he misused it. “
The ruble cut some of its initial losses and traded at 76 76.92 per dollar in London, down ড 1.5 at 9.30am London time. The Moscow benchmark Mox stock index was down 1.1 percent, while the market dollar-denominated RTS index was down 2.8 percent.
The country’s benchmark 10-year bond yield rose 0.19 percentage points to 7.24 percent, although it stood above the recent high of .3 percent. As a result of increase in yield, prices have come down.
Russia’s share of the ruble-denominated Treasury bond fell to 20.2 percent in March from a five-year low of 30 percent a year earlier.
BCS Global Markets wrote in a note addressed to clients on Thursday morning that imposing tougher sanctions on Russian bonds would, logically, be inconsistent with Biden’s proposal for a bilateral summit to “normalize” relations. “Nevertheless, tensions between the West and Russia over Ukraine involve uncertainty over risky trade.”