Economics
Ruble Fluctuates as Russia Awaits Fresh U.S. Sanctions on Syria
- Russian financial markets remain nervous and volatile: SocGen
- Bullish bets on ruble drop the most since August, CFTC says
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The ruble swung between gains and losses as investors braced for the announcement of new U.S. sanctions aimed at punishing the Kremlin for its backing of Syrian leader Bashar al-Assad.
Traders are reassessing their options after the harshest U.S. sanctions to data sent the ruble tumbling the most since 2015 last week. While some investors are pointing to rising oil prices as a reason to buy assets of the world’s biggest energy producer, others warn that Russia’s deteriorating relations with the West create too much uncertainty about how far U.S. penalties will go.