The Moscow Stock Exchange is in sharp decline in the wake of the tightening of sanctions on Russia by the United States and the European Union, for its role in the Ukrainian crisis. The two main indices of the Moscow market lost 2,03% (Micex, transactions in rubles) and 3,26% (Rts, transactions in dollars).
European heads of state and government agreed to extend legal bases to target entities, including Russian entities, that undermine or threaten Ukrainian sovereignty, its territorial integrity or independence. In the pipeline is the blocking of programs in Russia by the European Investment Bank and the EBRD.
The United States has decided to go even further by targeting large banks and companies in the defense and energy sectors (Rosneft, Novateck and Gazprombank). The ruble is trading at 34,80 for one dollar and 47,10 for one euro.
