Rouble recovery gains pace after Biden-Putin phone call

The Russian rouble extended gains in late trade on Tuesday after reports that U.S. President Joe Biden had a phone conversation with his counterpart Vladimir Putin, as the market kept a close watch on geopolitical tensions between Moscow and the West.

Biden proposed a summit meeting with Putin in a third country in coming months, while calling on Russia to de-escalate tensions, the White House said.

yeah that not gonna habben-kek

Moscow on Tuesday warned the United States to stay away from Russia and Crimea, while U.S. Secretary of State Antony Blinken offered Washington’s full support to Ukraine in its conflict with Russia.

The rouble and Russian bonds had earlier taken a hit after U.S. President Joe Biden said in March his Russian counterpart, Vladimir Putin, would “pay a price” for efforts to meddle in the 2020 U.S. presidential election, allegations that Moscow denies.