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Ruble decline slowing down after news on US Treasury report

February 02, 18:56 UTC+3 MOSCOW

The US Treasury Department believes that sanctions against Russian sovereign debt can harm both Moscow and Washington

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MOSCOW, February 2. /TASS/. The ruble decline against the dollar decelerated after news on the US Treasury report about adverse consequences of sanctions against the Russian sovereign debt.

The dollar rose by 60 kopecks to 56.5 rubles prior to the report release by Bloomberg but its growth contracted later to 56.2 rubles.

The US Treasury Department cautioned in the report that extension of sanctions against the Russian sovereign debt and Russian derivative securities may lead to adverse consequences not merely for the Russian but also for the global financial market and for US investors.

According to the report, "introduction of sanctions against the Russian debt "could hinder the competitiveness of large US asset managers and potentially have negative spillover effects into global financial markets and businesses."

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