Russian Stocks Slide as US Sanctions Hit Rosneft and Lukoil
Russia’s stock market tumbled sharply on Thursday after the United States announced new sanctions targeting the country’s two largest oil producers, Rosneft and Lukoil, according to the Moscow Times.
The MOEX Russia Index, which tracks 40 of the nation’s biggest publicly listed firms, fell as much as 3.6% to 2,546 points, its lowest level in more than a week. The RTS Index, which measures Russian equities in US dollars, dropped by a similar amount.
The sell-off was led by the oil majors directly impacted by the sanctions:
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Rosneft shares declined 3.78%, and
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Lukoil shares slumped 5.85%, wiping out much of their October gains.
The new measures, imposed by US President Donald Trump, further escalate economic pressure on Moscow by restricting global trade and financial dealings linked to Russia’s energy sector — a cornerstone of its economy.
Analysts said the latest sanctions are likely to weaken investor confidence and could trigger capital outflows, particularly as Western financial institutions reassess exposure to sanctioned entities.
