After the introduction of US duties on Chinese goods and the resumption of sanctions on Iran, it seems that now it's Russia's turn. As of now the rate of the Russian ruble since the beginning of the trading session has dropped by 2 rubles against the dollar, with the value of the reserve currency now worth 66 rubles. This is due to the fact that the US government is ready to introduce a new package of sanctions this fall. The Russian RTS index fell 2.64% and continues to decline, while the shares of Sberbank lost more than 4%.
Furthermore, the Russian authorities said they would seek retaliatory measures.
China also said that from August 23 they will introduce a 25% tax on US goods amounting to 16 billion dollars. If the US introduces new taxes on Chinese goods with a volume of $200 billion, then China is ready to reciprocate a tax of $60 billion.
At the moment, energy prices have fallen and at the moment the price for Brent crude is $72.40 per barrel, while the WTI has fallen below $67 per barrel.
