The Russian rouble will strengthen when temporary speculative factors and market nervousness are gone, but the economy will need to adapt to new U.S. sanctions targeting the banking sector, Economy Minister Maxim Reshetnikov said on Friday.

Fresh US sanctions against Russian banks have caused a further slide in the ruble, putting at risk some of the last channels of direct foreign-currency flows into the country.

President Vladimir Putin said there isn’t any reason for Russians to panic after the currency fell to its lowest level since the days following Moscow’s invasion of Ukraine.