By Jonathan Davies

The price of the Russian rouble has fallen to a new all-time low against the US dollar, following a fresh round of economic sanctions imposed last week.

The rouble fell by around 1% to 38.72 per US dollar, its weakest ever level since the currency was restructured in 1998.

On Friday (12 Sept), the EU imposed new sanctions on the Russian economy which Former finance minister Alexei Kudrin said would have material impact.

According to Interfax news agency, Mr Kudrin said: "The sanctions that have been imposed are going to have an effect for the next one or two years because they have limited opportunities for investment in this uncertain environment."

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