MOSCOW—The rouble rebounded from a near two-year low and shares in major Russian banks leapt on Tuesday after Britain announced the first but relatively modest sanctions after Moscow recognized two breakaway regions in eastern Ukraine as independent.
The rouble on Monday suffered its biggest one-day drop since the outbreak of the COVID-19 pandemic after President Vladimir Putin recognized the two regions as independent, but it regained some ground in volatile trade as the first round of penalties proved to be less harmful than feared.
