MOSCOW – The Russian rouble fell towards its lowest levels since 2016 inearly trade on Monday as support from month-end tax payments faded, givingway to pressure from new U.S. sanctions against Moscow.

The rouble shed 0.5 percent to 67.42 versus the dollar as of 0730 GMT,sliding towards 69.01, its lowest level since April 2016, which it brieflytouched last week.

U.S. sanctions against Russia tied to a nerve agent attack in Britain,which were announced earlier this month, came into effect on Monday, addingto the array of economic penalties Washington has imposed on Moscow.

A second batch of penalties will be imposed after 90 days unless Russiagives “reliable assurance” that it would no longer use chemical weapons andallow on-site inspections by the United Nations or another internationalobserver group.

The rouble also fell 0.5 percent versus the euro to 78.35 , losing supportfrom month-end taxes after export-focused companies have used the sell-offin the rouble last week to convert dollar revenues at attractive exchangerates to meet local liabilities this week.