The Russian ruble started the first full trading days in the new year on the rise, and rose from levels that are the lowest in 6 months, which it reached in volatile transactions in late 2022.

The ruble advanced 1.4% against the dollar by 07:00 GMT today, Monday, to reach 71.08.

The Russian currency rose 0.2% against the euro to 76.01, and settled against the Chinese yuan at 10.44 in Moscow.

The Russian currency is suffering under the weight of expectations that sanctions targeting Russian oil and gas will limit export revenues.

And after the ruble remained for long periods of last year the best performing currency in the world, it lost 17% of its value against the dollar since last December after Western moves to put a ceiling on the price of Russian oil, and the European Union banned Russian oil exports.