USD/RUB: Bulls eye to recapture 155.00 amid elevation on banning Russian oil imports

• USD/RUB sees more upside on the prohibition of Russian oil imports.
• EU is intending to cut its Russian gas imports by two-thirds in a year.
• US administration is set to announce a mega emergency aid for Ukraine.

The USD/RUB is rallying swiftly after US President Joe Biden decided to isolate Moscow by prohibiting oil imports. The Russian ruble saw a massive selling pressure against the greenback as a ban on Russian oil by the US and its allies would dampen a significant portion of its fund inflows.

The decision from the US has received assurance from its European counterpart after the latter announced its intention to reduce two-thirds of its Russian gas imports in a year. Over that, Russian Deputy Prime Minister Alexander Novak has cited that, “The surge in prices would be unpredictable. It would be $300 per barrel if not more.”

While a cease in the dumping of the Russian ruble by the market participants mainly banks upon a ceasefire in the Russia-Ukraine war.  The military activity in Ukraine is escalating further on the absence of any positive outcome post the second round of Russia-Ukraine peace talks. Adding to that, the U.S. congressional negotiators are aiming to close a bill of billions of dollars, which will be provided to Ukraine as emergency aid. This may strengthen the Ukraine to fix the carnage.

Meanwhile, the US dollar index (DXY) is gearing up for a fresh rally towards the psychological figure of 100.00 as Asian markets are likely to plunge further on galloping oil and energy prices. A fresh wave in the risk-aversion thing will eventually bring an impulsive wave to the greenback.