The invasion of Ukraine led to the fall of Russian stocks.
Amid a full-scale Russian invasion of Ukraine, Russian stocks have experienced a record drop as Russian investors failed to save the Russian domestic market from the fall caused by the war.
According to Bloomberg , Russian stocks have been delisted from global indices and exchange-traded funds that track the country’s shares have either been frozen or closed.
The invasion of Ukraine sent Russian stocks plummeting in February. Nearly 10 months later, a recovery looks far off after sanctions spurred an outflow of investors and made stocks the worst in the world.
According to the material, local investors could not save the domestic market from the fall caused by the war, even though most foreigners are still prohibited from selling local shares they own.
As stated in the material, the Russian MOEX index, calculated in rubles, fell by 44%, which is the most rapid annual decline since 2008. “As the intensity of the war grows, the losses could be even greater,” notes Bloomberg.
Shares of PJSC “Lukoil” and PJSC “Gazprom” fell by 30% and 53% respectively this year. The largest bank, Sberbank of Russia PJSC, fell by 54%.
“Russian equities reflect a bleak outlook as Western sanctions begin to weigh on the domestic economy,” said Peter Mathis, senior currency analyst at InTouch Capital Markets Ltd.
(C)UNIAN 2022
He hasn’t finished it off. Only when the serfs are starving and rioting will anything change.
Putin’s evil obsession is destroying ruzzia but there’s no one there to tell him.