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Liquidity good onshore but next to no liquidity offshore

RUB

According to our contacts there seems to be good liquidity at the moment in the USDRUB market onshore, but there is next to no liquidity in the offshore market at present.

  • Note that earlier this morning the UK government released a further statement on the sanctions imposed by the US, UK and EU and that the UK government "will immediately take all necessary steps to bring into effect restrictions to prohibit any UK natural or legal persons from undertaking financial transactions involving the CBR, the Russian National Wealth Fund, and the Ministry of Finance of the Russian Federation."

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