The Russian Rouble fell 2 per cent to 32.24 per US dollar on Monday 17 August, which is the biggest drop since 10 July.

The value of urals crude fell 3 per cent to $68.09 per barrel on the same day.

Analysts claim that a lack on interest in investing in Russia is proving problematic for the country’s economy at the moment. Manik Narain, an economist for Standard Chartered in London, says, “the iconic high-yielding, emerging market currency that people don’t want to have anything to do with when risk conditions are looking a bit unsupportive.” He added, there is some nervousness that markets have been pricing in too fast a pace of global recovery.”

Shares at some of the country’s largest energy firms are also suffering, with shares at Rosneft falling 5.2 per cent a share to 179.70 roubles a share. Mining firm, Norilsk Nickel, is also suffering with its shares falling 3.5 per cent per share. Some 2.1 per cent per share was also lost at the country’s largest metal producer, Novoip