The United States is not considering additional sanctions against Russia

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Today the assistant to the President for national security John Bolton stated that the United States is not currently considering the issue of additional sanctions against Russia. The currency market reacted emotionally to this statement. 14:30-14:50 the ruble has appreciated sharply by nearly 1% against the dollar and the Euro. Then came the rollback of the ruble down, half the previous movement was scored. Now the pair dollar/ruble stabiliziruemost in the area of 65,3 rubles, and the rate of the Euro/ruble – about 74,4 RUB.
Note that the currency market quickly calmed down, remembering how quickly can change the mood of Donald trump.
It is possible that during the recent visit of John Bolton to our country, progress has been made in the negotiations of Russia with the United States. It was probably also reached compromises on several issues relating to Syria and Ukraine.
But there are no specifics yet, so too early to draw far-reaching conclusions. Much will depend on the midterm elections to the US Congress on 6 November. If according to their results, the position of the Democrats in the U.S. House of representatives will increase, the disposition may change, and foreign policy pressure on Russia will increase. If indeed the positions of the two countries coming in the near future new sanctions against Russia should not wait.
In this case, given the high oil prices, the ruble remains the potential to strengthen. The pair dollar/ruble can fall back to 62-63 RUB, and the rate of the Euro/ruble – to 72-73 RUB Is the level at which the ruble was trading this summer, to the last round of deterioration of the geopolitical situation. It is possible that before the end of the year the ruble will ride on a “roller coaster”.
Roman Tkachuk,
Senior analyst,