Rouble jumps to around 2-year high vs dollar, euro as EU ups sanctions

Russian 100-rouble banknotes are placed on a cashier’s desk at a supermarket in the Siberian town of Tara in the Omsk region, Russia, December 14, 2021. REUTERS/Alexey Malgavko

May 4 (Reuters) – The Russian rouble jumped on Wednesday to around a two-year high against both the dollar and the euro, retaining the support of hefty capital controls as the European Union proposed a new package of sanctions against Russia over events in Ukraine.

European Commission President Ursula von der Leyen proposed a phased oil embargo on Russia, as well as sanctioning its top bank and banning its broadcasters from European airwaves, in a bid to deepen Moscow’s isolation. read more

By 0843 GMT, the rouble was 2% stronger against the dollar at 69.53 , after touching 68.6250 in early trade, its strongest since June 2020.

It had gained…