“The market is pricing in appointment of strong economists for the key roles in the government,” Alor Brokerage said in a note.

On Monday morning in Moscow, the ruble was 0.4 percent weaker against the dollar at 62.75 and eased 0.1 percent to trade at 74.28 versus the euro.

Room for a recovery in the ruble, hit hard by U.S. sanctions in April, is limited by expectations that the Russian finance ministry will increase daily purchases of foreign currency for state coffers this month.

Prices for oil, Russia’s key export, play on the upside for the Russian market. Brent crude oil, a global benchmark, was up 0.7 percent at $75.40 a barrel.

Higher oil pushed Russian stock indexes higher.

The dollar-denominated RTS index was up 1.0 percent to 1,157.9 points, while its ruble-based peer MOEX rose 0.7 percent to 2,305.8 points.