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Ruble Falls to Multi-Month Lows Against Dollar, Euro Amid News of US Sanctions

© AFP 2023 / ALEXANDER NEMENOVA Russian ruble coin is pictured in front of St. Basil cathedral in central Moscow
A Russian ruble coin is pictured in front of St. Basil cathedral in central Moscow - Sputnik International
MOSCOW (Sputnik) - Russian ruble sank to multi-month lows in early Thursday trade on Moscow Exchange (MOEX) after about new US sanctions against Russia.

As of 10:16 a.m. Moscow time (07:16 GMT), US dollar was up 1.43 percent to 66.49 rubles, while euro grew 1.22 percent to 77.05 rubles, earlier touching more than two-year highs at 66.65 rubles and 77.27 rubles, respectively.

On Wednesday, the US administration announced new sanctions against Russia over the poisoning of former spy Sergei Skripal and his daughter Yulia in Salisbury.

READ MORE: Finance Min.: Russia to Rely on Domestic Investors if US Sanctions Russian Debt

The sanctions were triggered by London's accusation that Moscow was "highly likely" involved in the poisoning. Russia has denied the allegations, stressing that British authorities have never presented any evidence on the matter. Both Skripals later recovered and were moved to an undisclosed location by the UK.

Syrian medical staff take part in a training exercise to learn how to treat victims of chemical weapons attacks, in a course organized by the World Health Organisation (WHO) in Gaziantep, Turkey, July 20, 2017 - Sputnik International
US Urges Russia to Allow Chemical Weapons Inspections Amid Skripal Sanctions
According to media reports, the first package implies a complete ban on the export of electronic devices and dual-use components to Russia, the second package may include a decrease in the level of diplomatic relations, a ban on flights of Russia's Aeroflot carrier to the United States and almost complete suspension of US exports. Russia can avoid the second wave of sanctions if it guarantees the non-use of chemical weapons in the future, the US State Department noted.

READ MORE: Russian Envoy Suggests NATO Prevents Allies From Urging UK to Probe Skripal Case

Another anti-Russia sanctions bill was proposed by a group of US senators led by Lindsey Graham in early August, which target dollar-denominated transactions by Russian banks and US nationals' operations with Russia's sovereign debt.

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