The Russian ruble declined 0.6% against the U.S. dollar and 0.5% against the Chinese yuan.
The benchmark Russian stock index fell by about 0.5% in Moscow.
Ukrainian government bonds sold off. A U.S. dollar bond maturing in 2029 fell to 68 cents on the dollar, erasing its gains for the year.
European gas futures rose by about 4%, to around €46 a megawatt hour. Gas prices had fallen in recent weeks on hopes a peace deal would allow Russia to increase its gas exports.
Investors have poured into assets that would benefit from a ceasefire between Russia and Ukraine in recent weeks. The Russian ruble in particular has been on a tear, gaining more than 25% against the greenback this year, though Western sanctions have restricted global investors’ ability to trade it.