A slump in Russian stocks adds turbulence to an economy already suffering from sanctions imposed due to Vladimir Putin’s invasion.
Billions of dollars were wiped off Russia’s stock market after President Donald Trump’s announcement of global tariffs—a signal that the country will be hit hard by the measures despite having been left off the list of countries targeted.
The White House said that Russia had been omitted from the tariff list because sanctions had already dwindled trade between the countries.
Newsweek has contacted Russia’s Finance Ministry for comment by email.Why It Matters
Although Russia avoided Trump’s tariffs this week, the slump in Russian stocks adds to turbulence in the economy already caused by the sanctions imposed due to Vladimir Putin’s full-scale invasion, adding to pressure on Moscow’s ability to find its war machine.
What to Know
The capitalization of Moscow Exchange (MOEX) companies fell by $23.7 billion, from 55.04 trillion rubles ($651.8 billion) at Wednesday’s close to 53.02 trillion ($627.9 billion) by the end of Friday.
The MOEX Russia Index tracking 43 of Russia’s largest publicly traded companies, lost 8.05 percent over the week—the biggest drop since September 2022, when Putin’s announcement of mass mobilization rattled markets.
Shares in some of Russia’s largest firms dropped, including Sberbank (5.
