Friday. 24.05.2024

Russia's rouble currency fell in Monday trading to its weakest value versus the euro since December 2014, reaching a nadir of 93.97 roubles per euro, Russian news agency Interfax reported.

Russia's already struggling, commodity-reliant economy has been devastated by falling prices for oil and other major exports amid a global downturn in trade this year due to the coronavirus pandemic.

The poisoning of dissident Alexei Navalny in Siberia in August and the house arrest of prominent US investor Michael Calvey, incarcerated in Moscow on disputed embezzlement charges since February 2019, have contributed to the investment climate.

30-million payment

Last week a Russian financial institution involved in the case against Calvey, Vostochny Bank, announced it had received a payment equivalent to more than 30 million dollars from one of Calvey's portfolio companies in an effort to resolve the case.

Calvey has denied wrongdoing.

Russia's rouble currency falls to six-year low against the euro