14 August 2026
The Russian stock market closed Friday’s trading with its steepest intraday decline since September 26, 2022. The Moscow Exchange Index lost 4.29%, or 250 billion rubles in market capitalization terms, and fell to 2,136.3 points.
From Wednesday to Friday, the index fell by 8.4%, losing in three days half of the gains it had accumulated over the past month and a half.
“The market collapsed due to geopolitics,” notes Freedom Global analyst Natalia Milchakova. On Friday, Russian Foreign Minister Sergey Lavrov again ruled out freezing the conflict with Ukraine along the frontline, citing the fact that doing so would allegedly “undo the heroism of our grandfathers who defeated Nazism.” He also threatened “destruction” of Western countries assisting Kyiv and “harsher methods” in response to attacks by the Ukrainian Armed Forces. At the same time, the Foreign Ministry rejected Ukraine’s proposed ceasefire in the Black Sea.
As a result, although trading started slightly higher, “the market plummeted by midday,” Milchakova notes. By 10:42 p.m. Moscow time (including the evening session), Sber shares had fallen by 1.4%, Magnit by 3.2%, Gazprom by 4.4%, Lukoil by 4.8%, Rosneft by 5.1%, and Rusal by 6.5%.
In late spring and the first half of summer, the Russian market experienced its longest decline since 1997—17 consecutive weeks. The Moscow Exchange Index reversed course at the end of June, but now investors are once again “closing positions they opened in anticipation of improved relations between Russia and the US,” notes Yaroslav Kabakov, a strategist at Finam.
Investors were anticipating the visit of American negotiators Steve Witkoff and Jared Kushner to Kyiv and then to Moscow. Donald Trump announced this trip almost two weeks ago, but the visit has still not taken place. As a result, the market found itself in the same situation it was in at the beginning of the big decline, write analysts at IFC Solid: “Geopolitical risks have not gone away, interest rates remain high, and Russian economic growth is virtually nonexistent.”
There are no visible reasons for stock market growth, according to Andrey Zatsepin, an analyst at Alor Broker: “Timid hopes for the start of negotiations to end the conflict have once again been dashed. On the contrary, the continued attacks on Russian infrastructure indicate an increased likelihood of continued growth in the federal budget deficit, which will be met with a slowdown in key rate reductions.”
Continued tensions in the Ukrainian conflict could lead to a further decline in the Moscow Exchange Index, down to a yearly low of 1,898 points, predicts Veles Capital analyst Elena Kozhukhova.
The markets know that the monkeys and horses in the kremlin talk nothing but bullshit.
Frankly, I could be alone but I don’t agree about Zelensky agreeing to freeze the front lines. Big mistake. We have suffered too many deaths and wound ps and destruction of our cities to just quit. Also who in their right mind thinks that the chief Kremlin scum bag will ever stop unless he’s dead or thrown out of Ukraine completely.
I think this is a ruse by Zelensky. He knows very well that the cockroaches won’t agree to a ceasefire. This makes him look like he’s willing to compromise in front of all the jellyfish and marshmallows.
Their market should be in the red at this point, unless theres 50 year futures, even then I have doubts.
It most likely is in the red. You just can’t trust any numbers coming out of this giant sewer pipe.