Russia's stock market dipped on Monday morning, dragged lower by the prospect of fresh U.S. sanctions and lower oil prices.
The Moex index edged down around 0.3 percent during lunchtime deals in Moscow, extending losses of more than 4 percent over the last month. Meanwhile, the U.S. dollar-denominated RTS gauge was off by almost 1 percent.
Volatility on the Moscow exchange has surged since Washington targeted major Russian firms and some of the country's most prominent businessmen on April 6.
Shares of aluminum giant Rusal were down over 5 percent on the Moscow exchange, after falling 30 percent in Hong Kong and notching new record lows. Oleg Deripaska, the Russian billionaire behind the Hong Kong-listed stock, was one of the executives targeted by U.S. sanctions announced earlier in the month.