Russian rouble hits weakest vs dollar since March 2022
New U.S. sanctions on Gazprombank hurt Russian exports
Geopolitical risk high after Russia fires new missile

MOSCOW, Nov 22 Reuters The Russian rouble tumbled to a more than twoyear low against the dollar on Friday after Washington imposed sanctions on a key bank facilitating Russia39;s gas exports to Europe and as Moscow39;s firing of a new hypersonic missile stoked geopolitical tensions.

Moscow fired the newly developed hypersonic ballistic missile the Oreshnik or Hazel Tree  at a Ukrainian military facility on Thursday in response to Kyiv striking Russia with U.S.made and Britishmade missiles this week for the first time after the U.S. granted its approval.

Also on Thursday, Washington imposed new sanctions on Russia39;s Gazprombank that prevent the lender from handling any new energyrelated transactions, potentially shutting down the only way European customers can pay for Russian gas.

By 1331, the rouble was down 1.7 at 103.02 against the dollar, earlier hitting 103.7455, its weakest mark since March 23, 2022. Trade in the rouble has become more opaque since sanctions in June abruptly halted exchange trading dollars and euros.

The rouble is continuing to decline, said Yevgeny Kogan, professor at Moscow39;s Higher School of Economics. The main reason is sanctions against Gazprombank, which was a backbone bank for exporters.

Kogan said the sanctions had dramatically changed the picture for the rouble…