At 13:00 SELČ, the MOEX, where prices are expressed in rubles, was depreciating by almost 8% and stood at 1,926 points. This is down from February 24, when Russia launched a military invasion of Ukraine, sending the stock market into free fall.
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The Russian stock exchange also continued its failure last week, when it erased 14%. The fall began after Russian President Vladimir Putin announced a partial mobilization.
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Among the big companies, the largest Russian oil company Rosneft weakened the most on Monday at 13:00 CET, which depreciated by almost 12%. Shares of Gazprom (-6.1%), Novatek (-9.3%), Nornickel (-9.4%) and Sberbank (-6.8%) also recorded more significant losses.
US equities have seen the sharpest decline in the past two years
Economic
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Putin announced on Wednesday the first military mobilization in Russia since World War II. In the following days, his announcement sparked protests in dozens of cities across the country.
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Public anger is particularly strong in poor regions populated by ethnic minorities, such as Dagestan, Reuters reported.
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