Around $450 million worth of foreign currency was converted into rubles last month, data shows The drop in the ruble exchange rate against major foreign currencies has prompted many Russians to sell off their dollar and euro holdings, the Bank of Russia said in its monthly financial risks review published this week.

Billionaires Mikhail Fridman and Pyotr Aven were hit by the latest expansion of anti-Russia penalties The US government has extended its Russia-related sanctions over the Ukraine conflict, adding four prominent individuals and a business association to the list.

Cairo is working to attract more Russian investment and promote joint projects, according to the Egyptian General Authority for Investment and Free Zones (GAFI). The government body wants to facilitate foreign investment flows into the North African country.