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Russian rouble little changed despite U.S. sanctions threat

ReutersJul 9, 2025 9:39 AM

- The Russian rouble changed little against the dollar on Wednesday, despite U.S. President Donald Trump's sharp criticism of Russian President Vladimir Putin and the threat of new U.S. and European sanctions.

By 0925 GMT, the rouble RUB= was 0.4% stronger at 78.15 per U.S. dollar, according to LSEG data based on over-the-counter quotes. The Russian currency is up by about 45% against the dollar since the start of the year.

Trump said on Tuesday he had approved sending U.S. defensive weapons to Ukraine and was considering additional sanctions on Moscow, underscoring his frustration with Russian President Vladimir Putin.

A new bill in the Senate would punish countries that trade with Moscow, imposing 500% tariffs on nations that buy Russian oil, gas, uranium and other exports. The Russian currency was hit hard by U.S. sanctions imposed last November.

"Despite the deterioration of the geopolitical environment, the rouble will continue to receive support from demand for rouble-denominated assets, which will at the very least restrain its weakening," said Bogdan Zvarich from bank PSB.

High interest rates in the Russian economy generate demand for rouble assets. The currency is also supported by increased forex sales by the central bank this month as well as by oil prices.

Against the Chinese yuan, the most traded foreign currency in Russia, the rouble was flat at 10.85 per yuan on the Moscow Stock Exchange. The central bank makes its forex interventions in yuan.

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