This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine

MOSCOW, June 30 Reuters The Russian rouble rose on Thursday, heading towards its strongest levels since 2015 as it retained support from high commodity prices, while shares in Gazprom plummeted after the gas giant said it would not pay dividends.

Gazprom shares fell 27 to 218 roubles 4.16 by 0941 GMT after the company said its shareholders had decided against distributing dividends on the 2021 results.

The decision put some pressure on the rouble as investors usually convert dividend payments they receive into foreign currency and other assets.

The lack of Gazprom payout this year removed additional shortlived support for the Russian currency, said Dmitry Polevoy, head of investment at Locko Invest.

But while the rouble pared intraday gains after Gazprom39;s move, it was still up 1.3 at 52.55 to the dollar after nearing the 50 mark on Wednesday for the first time since May 2015.

Against the euro, the rouble rose 2.5 to 54.61 , having climbed beyond 53 earlier this week for the first time since April 2015.

The rouble has become the world39;s bestperforming currency this year, boosted by measures taken to shield Russia39;s financial system from Western sanctions imposed after Moscow sent troops into Ukraine on Feb. 24. The measures have included restrictions on Russian households withdrawing foreign currency savings.

The strong rouble has raised concerns…