RUB falls as Western sanctions are expected

RUSSIA / FSU POLITICS - In Brief 05 Mar 2021 by Alex Teddy
On March 5 the Russian currency took a hit due to rumors that the UK and US intended to introduce swinging sanctions. The RUB fell 1% and was worth 74.5 to the USD. Bloomberg reported that asset freezes and travel bans could be introduced on billionaires suspected of being close to Putin. Limitations might be imposed on trading in Russian sovereign debt. Further restrictions on sovereign debt would be a major escalation. That might precipitate a sell of billions of USD of Russian bonds. That would raise borrowing costs for Russia sharply. However, the US is unlikely to do something that provocative. It would also hurt the US economy.

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