The ruble collapsed on record due to the expected embargo on Russian oil

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The ruble collapsed on record due to the expected embargo on Russian oil
The ruble collapsed on record due to the expected embargo on Russian oil
7 March, 11:18EconomyPhoto: 1MI
The Russian ruble showed a record fall during the last trading session. The collapse of 10% rolled back the national currency to 136.5 rubles per US dollar. This is due to the news about the probable US imposition of a ban on the import of Russian oil.

The ruble fell as soon as US Secretary of State Anthony Blinken announced the intention of Washington and its allies to impose an embargo on oil and energy from Russia, writes Bloomberg.

"This is a move that could deal a devastating blow to the Russian economy, as rising oil prices just soften the blow of already existing sanctions", - said, in turn, market analyst at Sydney City Index Matt Simpson.

Before that, the oil market responded to the danger of the embargo by raising May Brent futures to a record $130 per barrel.

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