Moscow Stock Exchange Dips
The MOEX index dropped 3.38%, falling below 2,564 points at the start of trading on the fourth business day of the week.
Simultaneously, the RTS index, which is denominated in US dollars, also decreased by 3.38%, dipping under 989 points.
Meanwhile, the Russian ruble weakened by 0.43% against the US dollar, settling at approximately 81.77 as of 0710 GMT.
In contrast, Brent crude oil prices climbed by 1.7%, reaching $64.12 per barrel.
The shares of the sanctioned companies were notably affected, with Rosneft’s stock declining 2.87% and Lukoil’s falling 3.26%.
The United States added Rosneft, Lukoil, and numerous associated entities to its sanctions roster, accusing Moscow of demonstrating "a serious lack of commitment" to progressing peace negotiations intended to resolve the conflict in Ukraine.
The US Treasury Department explained that the sanctions are designed to increase pressure on Russia’s energy sector and restrict the "Kremlin's ability to raise revenue for its war machine and support its weakened economy."
In an official statement, the department reiterated its dedication to employing every possible measure to back the peace process, emphasizing that "the US will continue to advocate for a peaceful resolution to the war, and a permanent peace depends entirely on Russia's willingness to negotiate in good faith."
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