Russian Stocks Surge Ahead of Zelensky’s Visit to Turkey

President of Ukraine Volodymyr Zelensky’s decision to travel to Turkey on Wednesday, 19 November, to reinvigorate negotiations on ending the hostilities prompted a significant rise on the Russian stock market. According to data from the Moscow Exchange, the index rose nearly 2.5 percent from the start of the trading day.

Russian Stocks React to Negotiation Signals

At its morning low, the index slipped to 2,492 points — the lowest level seen in November — but later climbed to 2,574 points.

Any indications of upcoming negotiations connected to the fighting in Ukraine have been perceived by the Russian market throughout this year as a positive development, as investors continue to hope for at least a partial easing of sanctions.

By mid-November, none of these hopes had materialized. Even the meeting between Russian President Vladimir Putin and US President Donald Trump failed to deliver any reduction in geopolitical pressure. On the contrary, in October the United States imposed stringent sanctions on Russian oil, sending its export prices to the lowest level since spring 2023.

Zelensky Announces Turkish Visit Amid Renewed Diplomatic Activity

Volodymyr Zelensky announced his upcoming visit to Turkey on his Telegram channel, emphasizing that Kyiv has prepared proposals it is ready to present to its partners.

Prior to this, Istanbul was visited by Ukraine’s Secretary of the National Security and Defense Council, Rustem Umerov, who signaled an intensification of negotiation efforts. Media outlets also reported that US presidential envoy Steve Witkoff is expected to travel to Turkey as part of the diplomatic initiative.