OREANDA-NEWS   Against the background of the entry into force of EU sanctions against Russian oil supplies by sea, as well as the introduction of a ceiling on Russian oil prices during trading on the Moscow Stock Exchange, the euro exchange rate exceeded 66 rubles for the first time since June this year, according to the site.

As of 16:50 Moscow time, the European currency reached 66.18 rubles (plus 2.1 percent). The dollar also rose to 62.36 rubles (plus 0.6 percent).

Since the outbreak of hostilities in Ukraine and the introduction of retaliatory sanctions by Western countries, the ruble exchange rate on the Moscow stock exchange is determined by the ratio of imports and exports. Limiting oil and gas revenues while import sanctions remain unchanged will reduce the supply of currency, which means it will weaken the ruble.

Earlier today, the Ministry of Finance of Russia reported that in November, the expected oil and gas revenues of the Russian budget, including additional ones, turned out to be worse than the forecast by 90.2 billion rubles. In December, the volume of additional oil and gas revenues is planned at the level of 176.1 billion rubles, which is significantly lower than the plans for previous months (in November — 282.8 billion rubles).