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US sanctions expansion may trigger dash for Russian currency — minister

July 26, 15:18 UTC+3

"We do not expect anything extraordinary," Economic Development Minister Maksim Oreshkin noted

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PETROZAVODSK, July 26. /TASS/. The expansion of US sanctions against Russia may cause fluctuations in the ruble's exchange rate, Economic Development Minister Maksim Oreshkin said Wednesday, adding though that he does not expect any drastic changes.

"We have a floating exchange rate, fluctuations are always in place, that is why certain changes are possible, though we do not expect anything extraordinary," he said.

According to Oreshkin, the move will not require any adjustments in the macroeconomic outlook either, since it is in line with the ministry’s projection of lower capital flows in the second half of this year.

"When we presented the previous version of the outlook in April, we said that we expected the situation with capital flows to worsen in general in the second half of the year. In principle, the situation is in line with this background, which is why we don’t see any drastic changes here," he said.

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