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Russian rouble gains as oil prices jump on Middle East tensions
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Russian rouble gains as oil prices jump on Middle East tensions
Jun 13, 2025 4:48 AM

June 13 (Reuters) - The rouble gained against the dollar

on Friday, supported by a sharp jump in prices for oil, Russia's

main export, after Israel launched major strikes against Iran.

Israel said it had attacked nuclear facilities and missile

factories and killed a swathe of military commanders in what

could be a prolonged operation to prevent Tehran building an

atomic weapon.

The attacks sparked Iranian retaliation and raised concerns

about possible disruption to oil supplies.

Brent crude was up 7.9% at $74.83 a barrel by 1124

GMT. The rouble was 0.6% higher at 79.50 per U.S. dollar,

according to LSEG data based on over-the-counter quotes.

Trading was light, as Russia was marking a two-day national

holiday.

The rouble appreciated more sharply earlier in the session,

but as oil prices pared some of their early gains, so too did

the Russian currency.

The rouble has strengthened by over 40% against the dollar

this year, a rise analysts have attributed to the easing of

geopolitical tensions - mainly with U.S. President Donald

Trump's administration - and the central bank's tight monetary

policy, which has reduced demand for foreign currency.

Against the Chinese yuan, the most traded foreign currency

in Russia, the rouble strengthened by 0.3% to 10.92 on the

Moscow Stock Exchange. The central bank uses yuan for foreign

exchange interventions.

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