Overview
- The Moscow Exchange plunged more than 4% in a single session, dropping to roughly 2,313–2,318 points and extending a 15-week losing streak that has driven the index to its lowest level since March 2023.
- The Bank of Russia’s 25 basis-point cut of its key rate together with governor statements that signaled slower easing than investors expected prompted traders to reduce holdings in equities.
- Falling oil prices, linked in coverage to the United States temporarily permitting some Iranian oil sales after talks in Switzerland, have worsened the outlook for Russia’s export revenues and corporate profits.
- Ongoing conflict-related disruptions, including reported Ukrainian attacks that hit transport and airports, hammered carriers such as Aeroflot and added to selling pressure across blue-chip energy and bank stocks.
- Sharp political comments calling for measures like deposit confiscation intensified panic selling and raised fears of administrative intervention, which analysts say compounds the hit from sanctions and will pressure government budget receipts and household savings.