May 15 (Reuters) - The Russian rouble weakened on
Monday, sliding to its lowest point since early-May against the
dollar, under pressure from low oil prices, reduced foreign
currency supply and the prospect of more sanctions against
Moscow.
At 0749 GMT, the rouble was 1.7% weaker against the dollar
at 79.25 , its weakest point since May 4. It had
lost 1.7% to trade at 86.25 versus the euro and
had shed 2.3% against the yuan to 11.38 .
Leaders of the Group of Seven (G7) nations plan to tighten
sanctions on Russia at their summit in Japan this week, with
steps aimed at energy and exports aiding Moscow's military
effort in Ukraine, officials with direct knowledge of the
discussions said.
The people said new measures would target sanctions evasion
involving third countries, and seek to undermine Russia's future
energy production and curb trade that supports Russia's
military.
"There is nothing particularly scary in the (sanctions the
West is due to announce)," said Alor Broker in a note. "But for
now this factor psychologically weighs on rouble assets."
Brent crude oil , a global benchmark for Russia's
main export, was up 0.1% at $74.21 a barrel, near a 10-day low.
The lower supply of foreign currency may also hamper the
rouble, said Banki.ru chief analyst Bogdan Zvarich, although
that downward pressure should gradually ease as exporters
prepare to pay taxes towards the end of the month.
Russian stock indexes were mixed.
The dollar-denominated RTS index was down 0.7% to
1,030.7 points. The rouble-based MOEX Russian index was
1.1% higher at 2,594.5 points.
For Russian equities guide see For Russian treasury bonds see (Reporting by Alexander Marrow; editing by Uttaresh
Venkateshwaran)
