Russian Ruble Hits 18-Month High Against Dollar On Surprise Annunciation Past Times U.S. Treasury On Russian Sanctions

The Russian ruble hitting an 18-month high of 58.8493 against the U.S. dollar on Th every bit the Department of the Treasury's Office of Foreign Assets Control issued a cyber-related full general license (GL 1), which allows American companies bear surely types transactions amongst the FSB.

The GL i makes several amendments to executive orders passed inwards Dec of 2016 past times the Obama direction related to election-related hacking charges.

More specifically, American companies volition hold out allowed to transact amongst the FSB inwards a express fashion as well as inwards accordance amongst Export Administration Regulations.

The Treasury states inwards GL i that the “exportation, reexportation, or provision of whatever goods, technology, or services to the Crimea percentage of Ukraine” is soundless non allowed.

In a press conference this morning, White House Press Secretary Sean spicer said the Trump direction inwards non easing sanctions on Russia.

Spicer explained that the Treasury Department’s express license is an amendment to existing sanctions for exempting surely companies/industries that should bring been affected past times the ban.

Spicer said:

“From what I understand, it’s a fairly mutual do for the Treasury Department ,after sanction are set inwards place, to become dorsum as well as expression at whether or non at that topographic point needs to hold out specific carve-outs for dissimilar industries, products as well as services that ask to hold out going dorsum as well as forth.”

Prior to the news, the ruble was upwards i pct against the banking concern annotation on the day, however, the unexpected proclamation sent the USD/RUB currency twosome tumbling to an 18-month depression inwards the infinite of xv minutes.

At press time, close of the ruble’s quick gains bring been lost every bit currency traders digest the total implications of GL 1.

Rubles ikon past times eltpics