(Reuters) – The Russian rouble slipped to 64 against the dollar after Tuesday’s close. However, capital controls gave support while concerns over new European sanctions dragged it down.

Leaders of the European Union agreed on Monday in principle to cut oil imports from Russia to 90% by the end of the year. Other sanctions were also implemented, including the exclusion from SWIFT the SWIFT payment network Sberbank to punish Moscow for intervening in Ukraine.

The rouble, at 0732 GMT was 1.5% lower against the dollar (63.09) It had reached 55.80 against the dollar last Wednesday, the highest since February 2018. However, it fell to 66.70 at the end of week.

The rouble fell 0.6% against the euro to 64.71. It had hit an all-time high of 57.10 on Wednesday, which was at the top of the month-end tax payments. This usually causes export-focused businesses to convert foreign currencies to cover their liabilities.

The capital controls helped to boost the rouble’s performance and make it the most successful currency this year. However, that changed last week when the currency began to slide. The rouble has also been supported by new gas payment terms to EU consumers, which require the conversion of foreign currencies into roubles. Also, a drop in imports has helped.

Russian stockindices fell.

Dollar-denominated RTS Index fell 2.2%, to 1,188.3 point. With 2,381.0 point, the MOEX Russian index based in rouble was 0.8% higher.

Sberbank shares, Russia’s largest lender, fell 1.1% after EU sanctions. According to the bank, the decision not to remove it from SWIFT’s messaging system will not impact its operations.