Kremlin: Will respond in kind to any 'illegal' US sanctions, USD/RUB spikes to 77.50
|Kremlin came out with a statement on Thursday, citing that Russia will respond in kind to any 'illegal' US sanctions and defend its own interests, per Reuters.
Earlier on, Reuters reported that the US is set to slap sanctions on Russia as soon as Thursday for alleged election interference and malicious cyber activity.
The potential sanctions would restrain the American financial institutions from buying new bonds directly from Russia's central bank, finance ministry and the country's massive sovereign wealth fund after June 14.
Market implications
The S&P 500 futures are unperturbed by the above comments, holding 0.49% higher near 4,140. The Russian equity markets, however, have tumbled on the prospects of the harshest US sanctions in years.
Meanwhile, USD/RUB is rising 1.12% to 76.75, having hit two-day highs at 77.50.
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