USD/RUB faces pressure as Ukraine-Russia peace talks signal sanctions relief

USD/RUB is experiencing downward pressure amid growing speculation of potential peace negotiations between Ukraine and Russia, with President Zelensky expected to respond to Trump's peace proposal on Wednesday. Oil prices have been declining partly due to peace hopes, as any agreement could include sanctions relief allowing Russian crude to flow more freely into global markets. While the probability of a successful deal remains low, the mere possibility of negotiations is weighing on the dollar against the ruble. Markets are positioning for potential sanctions relief that would strengthen Russia's currency and increase oil supply. Technical indicators suggest USD/RUB could test lower support levels if peace talks gain momentum. The situation remains highly fluid, with rapid developments possible given Trump's reported leverage over Ukraine regarding territorial concessions. Traders should monitor Wednesday's announcement closely for immediate market impact.