Negative geopolitical news cause Russian stock market to plummet

The Russian stock market saw a sharp decline during trading on March 28, dropping 2.43% to 3,009.16 points at the time of reporting, according to market data.

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Financier

The MOEX Index, which fell below 3,100 points for the first time since mid-February, came close to the 3,000-point mark on Friday, hitting a low of 3,001.62.

"Over the past two days, the Russian market has lost 150 points, falling from 3,200 to around 3,050. Today, in the absence of positive geopolitical news, the MOEX Index continued its downward movement," stated a report from BCS Express.

Experts noted that Gazprom shares were among the biggest losers following a Ukrainian strike on the Sudzha gas distribution station in the Kursk region.

Commenting on the situation, Kremlin spokesperson Dmitry Peskov said that Ukraine continues to target Russian energy facilities daily, violating a moratorium. He also pointed out that the EU’s reluctance to lift sanctions on Russia signals a lack of interest in pursuing peace.