Sharp Drop After Sanctions on Moscow Stock Exchange

Decline of the Moscow Stock Exchange

On the fourth trading day of the week, the MOEX index experienced a loss of 3.38%, falling below 2,564 points. The dollar-based RTS index also saw a decline of 3.38%, dropping below 989 points, resulting in a significant loss.

Decline in Oil Company Stock Values

The stock price of Rosneft, which has entered the U.S. sanctions list, decreased by 2.87% to 390 rubles, while the stock price of another major company, Lukoil, fell by 3.26% to 5,854 rubles.

Decline in the Russian Ruble

The Russian ruble depreciated by 0.43% against the dollar, with the dollar/ruble exchange rate rising to 81.77. This situation is associated with an increase in market uncertainties.

U.S. Sanctions and Europe's Response

The U.S. included major Russian oil companies like Rosneft and Lukoil in its sanctions list, citing a serious lack of commitment during the ongoing war in Ukraine. Additionally, the European Commission approved the 19th sanctions package, which includes restrictions on imports of liquefied natural gas (LNG) from Russia.