Rouble rallies sharply
Hits strongest since June 2015 vs euro
Sberbank CIB says selling gas for roubles behind rally
Further rouble firming not welcomed by budget

May 20 Reuters The Russian rouble rallied to its strongest levels against the euro and dollar since June 2015 and March 2018 respectively on Friday, which analysts attributed to EU countries preparing to pay Russia for gas and to capital controls imposed by Moscow.

Russia said on Thursday that half of gas giant Gazprom39;s 54 clients have opened accounts at Gazprombank, as European companies approach imminent deadlines to pay for their gas supplies.

Opening such accounts became possible after EU executives allowed member states to keep buying Russian gas without breaching the slew of sanctions they have collectively imposed on Russia over what Moscow calls its special military operation in Ukraine that started on Feb. 24.

One of the main reasons for the rouble rally is the switch to roubles from euros that will take place in European payments for Russian gas, said Yuri Popov, a strategist at SberCIB Investment Research, a unit of Russia39;s No.1 lender Sberbank.

At 0807 GMT the rouble had firmed more than 5 to 61.10 against the euro in volatile trade on the Moscow Exchange after touching 59.02, its strongest since June 2015.

Against the dollar, it added more than 4 on the day to 59.10 after hitting 57.0750, a level not seen since late March 2018.

The rouble has firmed around 30 to the dollar this year…