Russian rouble surges after release of Marc Fogel

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The ruble has grown to its strongest level in five months, as the issue of American teacher in Russia has stimulated the hopes of investors to end the Ukrainian war.

The currency increased by about 3% at 93.8 on Wednesday, against the dollar, following the transaction to ensure Return of Marc Fogelwho has been arrested since 2021.

The movement distributes Donald Trump to return to the White House rubric by earning 21 percent from the beginning of the year. The US President promised to end Ukraine’s war, and the White House said that Fojel’s release was a step towards the end of the conflict.

Kremlin spokesman Dmitry Peskov said that the deal was the result of “enhanced” contact with the White House, adding that the Russian prisoner arrested in the United States will be released.

“The expectation of negotiations between Russia and the United States gives some optimism for investors,” said Alexandra Prokopenko, a member of the Berlin Carnegie Eurasia Center.

“If the negotiations are complicated, and this optimism fades, the ruble will have a hard time.”

Analysts said the currency also increased by the increase in the sale of Chinese Renminbi by the Central Bank of Russia by the Central Bank of Russia, which interferes in the markets.

The increase in energy prices also supported the ruble, promoting Russia’s export revenues. Brent Crude, the international oil benchmark is 7% since early December, while natural gas prices have increased sharply.

In 2022, Russia’s invasion was launched that Russia is an invasion of Ukraine, which accelerated a number of Western sanctions. Russia disabled from the global financial system.

Although the authorities received the exchange rate, tightening the currency controls, the ruble remained unstable and the US energy sanctions occurred at the end of last year.