May 20, 2024
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Worldwide

Sterling rises against the euro after Western sanctions on Russia

Published by
Reuters UK

By Samuel Indyk LONDON (Reuters) – Sterling rose against the euro but was little changed against the dollar on Monday after Western nations imposed tough new sanctions on Russia for its invasion of Ukraine. Western allies acted over the weekend to block certain Russian banks’ access to the SWIFT international payments system and announced plans to implement restrictions on the Russian central bank’s international reserves. Against the euro, sterling was up 0.5% at 83.64 pence at 1515 GMT as the single currency weakened following the sanctions. Sterling recovered against the dollar to trade bro…

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