Moscow blue-chip index suffers biggest fall since Crimean crisis as rouble slides

[fleur-de-lisa]

Russian markets hit by US sanctions and Syria

https://www.ft.com/content/412e9d88-3bd6-11e8-b7e0-52972418fec4

Financial Times: Russian stocks suffered their worst session in four years and the country’s bonds and currency plunged as the impact of new US sanctions against its economy and fears over increased conflict in Syria ravaged markets.

The Kremlin was left scrambling on Monday to find ways to support its companies and retaliate against Washington as the stock market sell-off spread far beyond the seven oligarchs and 14 companies hit by US sanctions late last week.

Investors worried about increased geopolitical risk bailed out of Russia-linked assets, sending Moscow’s blue-chip MOEX index down 8.34 per cent, its biggest single-day fall since the imposition of sanctions by the west in 2014 in response to Moscow’s invasion of Crimea.

The rouble fell as much as 4.1 per cent against the dollar, its largest drop since 2016.

[Wellstone ruled]

1. A German News Mag

estimates Putin will need 1.5 trillion to keep Russia afloat in the short term.