INSUBCONTINENT EXCLUSIVE:
The Russian ruble surged by more than 10% on Tuesday in Moscow trading, as investors saw signs of progress in peace talks between Ukrainian
and Russian negotiators.The currency was trading below 83 against the U.S
Critics have called for an energy embargo on Russia to stop Moscow being able to use its multi-billion dollar exports to prop up the
has stopped purchases of Russian oil and several Western trading companies have stopped dealing with Russian oil since the invasion, but
the currency was trading at around 80 against the U.S
dollar.The Central Bank has also introduced strict capital controls, banning companies from sending foreign currency out of the country and
prohibiting Russians from buying foriegn currencies in cash
come under pressure in the coming months, analysts say
The country still faces the possibility of a default, when it becomes unable to service government bonds using the frozen Central Bank
rubles, rather than euros as the contracts currently stipulate
