(Reuters) – The rouble hovered at the $80 mark on Monday while the stock market fell as investors waited for new momentum.

The Ukrainian Foreign Minister claimed that no recent diplomatic contacts between Russia, Ukraine or their foreign ministers were made.

Dmitry Polevoy from LockoInvest, Head of Investments said that “continuation of active fighting or a clear stalling in negotiations is the primary risk for Russian assets due to the risks of New Sanctions.”

At 0730 GMT the rouble stood unchanged at 79.65 against USD and had increased 0.2% to 85.15 euros by the end of the day.

Capital controls imposed by Russia in February are designed to artificially limit fluctuations in the Russian ruble. Russia’s economy and financial sectors have been hit hard by unprecedented west sanctions. These were in response to Moscow sending hundreds of thousands of troops into Ukraine on Feb. 24.

The rouble may see some support this month from tax payments. According to Reuters, companies will have to pay a record three trillion roubles ($37.50billion) in taxes. This is the amount that certain export-focused firms need to exchange foreign currency.

Stock market: The MOEX Russian index, which is based on rouble, fell 1% at 2,402.0 points while RTS, which is based on dollars, lost 0.9% at 946.7.

The Russian share of Petropavlovsk (also listed in London) gained 3.4% after massive losses last Wednesday when the company stated that it might be selling its shares due to the sanctions on Russia.

For Russian equities guide see

Russian Treasury Bonds

($1 = 80.0050 roubles)