Russian central bank reacts to tighter US sanctions

Bank of Russia suspends some dollar trading as G7 countries consider moves against Chinese banks

Central Bank of Russia
The Bank of Russia
Photo: Ludvig14/Wikimedia Commons

The Bank of Russia suspended some trading of rubles against dollars and euros on the country’s largest foreign exchange market after the US tightened sanctions.

The Russian central bank announced the move on June 12, suspending trading of deliverable instruments on the Moscow Exchange in the two currencies. The next day, the Bank of Russia announced it would calculate the ruble’s exchange rate using data from the interbank market.

The move follows a significant tightening in the US government’s

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