Russian Rouble and Stocks Surge Amid Trump-Putin Call, Easing Geopolitical Tensions

The Russian rouble and stocks surged following a call between US President Trump and Russian President Putin discussing Ukraine. The rouble rose by 3.4% against the dollar, with sparks of optimism towards de-escalating geopolitical tensions noted by analysts. Sanctions still restrict Western investments.

The Russian rouble and stock market experienced significant growth on Thursday after a conversation between U.S. President Donald Trump and Russian President Vladimir Putin focused on resolving the Ukraine conflict. Following the phone call, the rouble increased 3.4% against the dollar, reaching unprecedented levels not seen since September 2024.

During the session, the rouble briefly hit 89.90, and some Moscow exchange booths closed as they struggled with the plummeting dollar. The MOEX index also soared, climbing by 5.8% on Wednesday and an additional 6.1% on Thursday, as investors welcomed possible geopolitical de-escalation.

Despite these gains, analysts caution against excessive optimism due to uncertainties surrounding a forthcoming summit and potential peace negotiations. Western investors are still constrained by sanctions, making the Chinese yuan a dominant trading currency in Russia.