Russian Stock Markets, Currency Crumble

World | March 3, 2014, Monday // 11:32| Views: | Comments: 6
Bulgaria: Russian Stock Markets, Currency Crumble

Russia’s stock markets and its currency have plummeted to a historic low on Monday, following the international condemnation of Moscow’s deployment of troops in Crimea.

The stock markets in Moscow lost more than 9% of their value minutes after trading begun, RIA Novosti reports. In response, Russia’s central bank increased interest rates by 1.5%.

The Russian ruble has also kept falling, both against the euro and the dollar.

Shares in state-owned gas giant Gazprom, which is considered particularly vulnerable to events in Ukraine because of its extensive pipeline system in the country, fell by almost 11%, the edition adds.

As the scale of Russia’s military incursion in the southern Ukrainian region of Crimea grew last week, Russia’s MICEX Index lost 2.8% and the ruble declined 1.7% against the dollar.

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Tags: ruble, Moscow, Ukraine, Crimea, Russia, Gazprom
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» To the forumComments (6)
Vladimir K. - 4 Mar 2014 // 13:43:47

And President Yanukovich triedto do everything to appease the demands of these protesters, and he did it. But that wasn't enough, these idiots from the maidan still kept going with their neo-nazi, fascist anti russian bullshit so the president had to leave. And if somebody pisses you off this badly overthrowing you illegally from your democratically elected position, wouldn't you be pissed off with your "country" and take a compensation for that crap anyway?

Vladimir K. - 4 Mar 2014 // 13:05:53

There is nowhere where I said these extremely wealthy Russians should keep their money either. After the crash of the USSR their methods of gaining that money was highly illegal and inmoral and I wouldn't have any problems with the government seizing their properties either.

Russophobe - 4 Mar 2014 // 10:23:45

Good. Russia only grew 1.3% last year, it already is in dire straits economically. They spent (robbed mostly) 50 billion in the Sochi Olympics. Their economy is very vulnerable at the moment. Hit them where it hurts.........

Benkovski - 4 Mar 2014 // 09:00:24

Dear Vladimir dont forget the 111 russian Bilionaires who gained/stole the money from governments and people. Oh yes maybe you can explain this ukrain puppet president who have these luxury estates and billions of dollar lost.
Vladimir you better go back under your rock.

Behemoth - 3 Mar 2014 // 16:00:38

"Russia should kick out these foreign investors, close it's business with these senceless people and take over their assets"

Let me see which "investors" are the main companies at the Moscow Stock Exhange: Gazprom, Sberbank, Rosneft, Lukoil and VTB. Ah yes, all of them foreign investors "that should be kicked out", whose "business should be closed" and whose "assets should be taken over" by the Russian government. LOL

Your posting is one of the most moronic and uninformed I have ever read here. Well done, you made my day! Always nice to read such funny messages!

Vladimir K. - 3 Mar 2014 // 13:59:32

Now a world without investors and stockmarkets, if possible. Would be better. Let the government handle every business as private capitalists simply care about money, trying to gain more by making the product inferior yet raising the prices.

Capitalism is all about gaining as much money as possible at the expense of health, morals, values, quality. I could go on, but this is just sickening.

Russia should kick out these foreign investors, close it's business with these senceless people and take over their assets.

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