War chokes Russian stock market, again
Hello! Welcome to your weekly guide to the Russian economy, written by Alexander Kolyandr and Alexandra Prokopenko and brought to you by The Bell. The Russian stock market is on a record-breaking losing streak — this week we look at why, whether it will end soon and how, paradoxically, it might be helping the Kremlin fund the war.
‘Some things are more important than the stock market’
The Russian stock market is in a protracted slump, with the MOEX index having fallen for the last 17 weeks running — the longest unbroken fall since 1997. This year the index is down almost 23%, and 9% so far in July alone. After the latest plunge on the morning of July 7, the index fell to 2,117.5 points — the lowest level since December 2022.
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