The ruble is shaking off Obama's sanctions against the Russian government

The Russian ruble is seeing little response to President Barack Obama issuing new sanctions against Russia for its alleged role in election hacking.

Obama called the hacks “malicious cyber-related activities” that were aimed at undermining the “democratic processes.” He ordered the removal of 35 Russian diplomats from the United States in addition to announcing the closure of two Russian compounds in New York and Maryland in response to “Russian harassment of American diplomats” in Moscow.

Ahead of the announcement, the Russian ruble was slightly weaker for the day near 60.6000 per dollar when news of the sanctions broke around 2 p.m. ET. Since the announcement, the ruble has actually strengthened a touch to 60.4846 per dollar where it hovers little changed for the session.

The ruble is down about 16% in 2016 against the US dollar.

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