MOSCOW: The Russian rouble firmed in early trade on Monday and the benchmark MOEX stock index hit an all-time high after the United States lifted sanctions on Russian firms linked to oligarch Oleg Deripaska.
US President Donald Trump's administration on Sunday lifted sanctions on aluminium giant Rusal and other companies linked to Deripaska, defying a Democratic-led push in the US Congress to maintain the restrictions.
The move helped to improve investors' sentiment towards Russian assets that also retained supported from high oil prices.
Shares in Rusal, the world's largest aluminium producer outside China, jumped 6 percent to 33.69 roubles per piece as of 0706 GMT.
Shares in car maker GAZ, controlled by Deripaska, were up 4.6 percent at 481 roubles, outperforming the broader market.
The dollar-denominated RTS index rose 0.4 percent to 1,196.2 points, while the rouble-based MOEX Russian index was 0.1 percent higher at 2,501.1 points after briefly hitting an all-time high of 2,502.73.
The rouble was 0.3 percent stronger against the dollar at 65.84 and had gained 0.2 percent to trade at 75.14 versus the euro.
"The positive news relating to sanctions could see the return of a rate of 65.69-66.00 rouble to the dollar," analysts at Promsvyazbank said in a note, adding that the US move "does not mean a cardinal change in the sanctions approach."
"At the same time, the key driver for the rouble remains the general attitude of investors toward currencies from developing countries," Promsvyazbank said.
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