FX.co ★ Russian Stocks Remain Under Pressure

In June, the MOEX Russia Index has hovered around the 2,800 mark, maintaining proximity to a four-month low of 2,650 recorded on April 9th. This comes as investors assess the implications of potential additional sanctions. The US Senate is currently reviewing a bill aimed at imposing further sanctions on Russia, as well as extending secondary sanctions to nations engaged in trade with it. The position of President Trump regarding this proposed legislation is not yet clear. Concurrently, the European Union is developing its 18th package of sanctions against Russia, though it seems to be aligning its subsequent actions with those of the US. Possible measures under consideration include tightening restrictions on the $60-per-barrel price cap for Russian seaborne oil exports. These activities unfold against the backdrop of ongoing conflict in Ukraine, where significant progress in peace talks remains elusive. As of the current year, the MOEX Index has decreased by over 3%, following a decline of nearly 7% in 2024. Among the key stocks, Rosneft has seen a significant fall of almost 30%, Lukoil has declined by roughly 12%, and Gazprom has experienced a drop of more than 5.5%.