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Russian rouble flat vs US dollar despite oil sanctions

ReutersJan 14, 2025 8:53 AM

- The Russian rouble was flat against the U.S. dollar on Tuesday despite the new U.S. sanctions against Russia's energy sector that targeted the country's oil and gas revenues.

The rouble was at 102.75 to the dollar at 0845 GMT, unchanged from the previous day, over-the-counter market data showed. The rouble weakened 1% to 13.96 against the yuan in trading on the Moscow Stock Exchange (MOEX).

The United States imposed sanctions on major Russian oil producers as well as over 180 tankers and dozens of oil traders, oilfield service providers, insurance companies and energy officials.

"Sanctions against the oil and gas sector are aimed at reducing Russian exports, which could also lead to a decrease in foreign currency inflow," BCS brokerage analysts said.

The rouble has received some support from higher oil prices, as a result of the sanctions, and expectations of higher net forex sales by the state that would rise by almost one third to 4.76 billion roubles ($46.42 million) per day from Jan. 15.

One-day rouble/dollar futures, which trade on MOEX and are a guide for the over-the-counter exchange rate, were up 0.7% at 104.14. The Russian central bank set the official exchange rate at 102.71.

(Reporting by Gleb Bryanski
Editing by Tomasz Janowski)

((gleb.bryanski@thomsonreuters.com;))

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