Sharjah24 – Reuters: The Russian rouble sunk to a more than 15-month low on Tuesday before paring losses after Russian President Vladimir Putin ordered the deployment of troops to two breakaway regions in eastern Ukraine after recognising them as independent.

The rouble suffered its biggest one-day drop since the outbreak of the COVID-19 pandemic on Monday, plunging on Western fears that Putin's move to recognise the two regions as independent and send in forces to "keep the peace" may presage a major war. Read full story

At 0613 GMT, the rouble was 0.2% stronger against the dollar at 79.64 RUBUTSTN=MCX, recovering slightly after sliding to 80.5825 in early trade, its weakest point since Nov. 2, 2020.

It had gained 0.2% to trade at 90.00 versus the euro EURRUBTN=MCX, after earlier hitting 90.95, its weakest since April 2021.

Russia has repeatedly rejected Western assertions that it may be planning to invade neighbouring Ukraine, but its assets have been hammered by fears of a military conflict that would almost certainly trigger sweeping new Western sanctions against Moscow.

Brent crude oil LCOc1, a global benchmark for Russia's main export, was up 2% at $97.30 a barrel.