The Russian ruble is at its lowest level in a year on speculation Shell is going to repatriate $1...

Recent reports that Shell plans to repatriate more than $1 billion in ruble earnings has led to the latest leg down in the Russian currency, pushing it past a psychologically important level of 80 rubles per dollar.

Trading at 81.6 rubles on Thursday, this marks the currency's lowest level since April 2022.

"The process for approving assets sales by foreigners is opaque," Dmitry Polevoy, of Moscow's Locko-Invest, told Bloomberg. "With liquidity in the currency market low, it leads to increased volatility for the ruble."