Swiss innovative online bank Dukascopy Bank today announced changes to trading conditions for Russian Ruble instruments.
Dukascopy explains that, amid increased geopolitical tension, the risks associated with the newly introduced US sanctions against Russia and further uncertainty, the company has decided to reduce the maximum exposure limit on USD/RUB and EUR/RUB instruments from 5 to 1 million of primary currency. The change applies to all trading accounts.
The measure aims to prevent possible clients losses in case of significant price gaps in the exchange rate of the Ruble. The maximum leverage on RUB instruments remains unchanged at 1:10.
The revised exposure limit takes immediate effect and will be in force until further notice.
Let’s recall that, on April 15, 2021, United States President Joe Biden stated:
“Today, I’ve approved several steps, including expulsion of several Russian officials, as a consequence of their actions. I’ve also signed an executive order authorizing new measures, including sanctions to address specific harmful actions that Russia has taken against U.S. interests”.