Mubasher: Russia’s currency fell sharply after US President Donald Trump warned that the US missiles are coming and condemned the Russian policies.

Trump’s comments, which came as a response to Russia’s officials threats against US military actions in Syria, sparked market fears and triggered a strong decline in the Russian ruble, which was already hit by the US strict sanctions against Moscow.

By 03:00 pm GMT, the USD/RUB pair jumped by 1.36% to around 63.9, marking its highest level since November 2016, reflecting market concerns over the recent comments.

The ruble has dropped by around 10% since the beginning of this year due to the geopolitical tensions.

“The sanctions aren’t just increasing, they’re turning into a tool of real economic war. We will take all measures needed to stabilize the situation,” Prime Minister Dmitry Medvedev told parliament earlier Wednesday.