Ruble weakens

The euro rallied to 72 roubles and the dollar climbed above 68 roubles for the first time since 11 May on the Moscow Exchange. The RTS index fell 5.6% to 980. Major Russian stocks, excluding non-energy minerals, are also tumbling.

Analysts forecast the Eurodollar will further strengthen due to a significant drop in the price of Russian Urals crude oil exports caused by the EU embargo.

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