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Some Funds Bet on Quick Rebound in Russia’s Sanctions-hit Markets

(Reuters) Less than two weeks after the latest round of U.S. sanctions plunged Russia’s rouble to 16-month lows, some global funds have already stepped back in to buy rouble-denominated sovereign bonds and take advantage of the weaker currency. Early this month, Washington imposed new sanctions on 24 Russians, striking at allies of President Vladimir Putin to punish Moscow for its alleged meddling in the 2016 U.S. election and other “malign activity.”

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