On September 20, andhe collapse of the Moex exceeded 11%, although it later managed to reduce the decline to 7%. The index fell 33.28 percent.
According to Refinitiv data, the stock market had achieved three consecutive months of recovery, after the sharp falls registered between April and June.
The sharp declines on the Moscow Stock Exchange took place after the Russian agency interface reported that the Ukrainian territories controlled by Putin’s troops will hold referendums to join Russia.
The state of the Russian economy
Although Western economies are suffering from a sharp slowdown in growth, Russia is being the biggest victim in economic terms (obviously after Ukraine). The Russian economy would have expanded between 5% and 6% in 2022 if the war and Western sanctions had not existed. The Russian economy is now expected to suffer for years (with a 5% recession by 2022), with a period of technological stagnation, veteran Russian economics expert Oleg Vyugin has revealed to Reuters.
Despite everything, there has been no catastrophe according to analysts, since the extensive sanctions imposed against Moscow for the conflict in Ukraine they have only been 30%-40% effectiveas Russia has found ways to get around the restrictions, but they see serious problems if Russia’s growing export earnings were to fall.
“If there were no sanctions, the Russian economy could have grown by 6% this yearVyugin, who was deputy finance minister and deputy governor of the central bank during his career before retiring from a post on the Moscow stock exchange this year, told Reuters in an interview.
Source: Ambito
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