Russia pledges to take all necessary measures to cope with the impact of US sanctions imposed on the country on Friday.
Russian Finance Minister Anton Siluanov said Russian authorities would do everything they could to minimize the impact of the US sanctions on the financial markets.
Meanwhile, the Governor of Russia’s Central Bank Elvira Nabiullina said Russia is closely watching the market after US Friday sanctions.
She added the country has a wide range of tools to handle any risks to financial stability emerged.
"As happens with such situations, in the first days afterwards there is heightened volatility because there's a lot of uncertainty and the consequences are not completely understandable for investors and market participants," Nabiullina said.
Economy Minister Maxim Oreshkin said the floating rouble rate helps to offset a possible negative effect on the Russian economy.
Russia’s economy is projected to grow by 2 percent this year after a 1.5 percent increase in 2017.
Russian President Vladimir Putin is due to discuss the state of the economy with Prime Minister Dmitry Medvedev later on Tuesday.
Medvedev has called for possible retaliatory measures against the US.
The rouble fell Tuesday for a second day, shedding over 3 percent of its value against the dollar. The investors continue to sell-off of assets fearing the US could impose more sanctions.
The US sanctions, announced on Friday, target Russian officials and business people close to President Putin. They come in an aggressive response to alleged Russian meddling in the 2016 US election.
Meanwhile, two US Congressmen are attempting to impose further sanctions on Russia over the poisoning of ex-spy Sergei Skripal and his daughter in Britain, an accusation vehemently denied by Russia.
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