Russia sells $10bn in reserves to prop up rouble

Russia has sold $10bn in currency reserves to support the rouble amid the crisis in the Ukraine.

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Russia: 'Hysteria' on markets will subside

"Hysteria" on Russian markets will subside because of Central Bank interventions to support the rouble, but Russia faces a period of strained ties with the European Union and the United States which will weigh on the economy, a senior official said.

"The wave of hysteria will pass, but it is difficult to say when," Deputy Economy Minister Andrei Klepach told Reuters.

"What lies ahead of us is a period of more confrontation and difficulties. For us, that will mean more complicated relations with the European Union, the States, with all the resulting consequences."

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