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Recent resumption of disruption among Ukrainian forces and separatists rebels in the East, is risking MINSK II agreement, which has been reached in earlier this year after failure of the first, with coordination of German Chancellor Angela Merkel, French President Francois Hollande, Russian President Vladimir Putin and Ukraine's leader petro Poroshenko.
It has been a blame game between Russia and Ukraine over the recent rise in violence.
German Chancellor Ms. Merkel has called a special trio summit with Mr. Hollande and Mr. Poroshenko at the request of the latter on Monday.
Rouble traders, should keep an eye at the outcome of this meeting as Russia might face tougher sanctions over these developments and if Russian link to the crash of MH-17 is proved by Dutch officials.
In such a case Rouble, which is currently trading at 65.76 against Dollar (USD/RUB) might face further downside and trade as low as 70 against Dollar, with lower oil price already creating havoc for the economy.
