22 May 2024, Wednesday, 4:15
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Mobilization Shorted Russian Market By 2.5 Trillion Rubles

Mobilization Shorted Russian Market By 2.5 Trillion Rubles

The Russian Federation suffered huge economic damage.

The Moscow Exchange index has lost 2.5 trillion Russian rubles of capitalization since September 20, when the State Duma of the Russian Federation urgently adopted amendments on mobilization and martial law, followed by Putin's decision to draft hundreds of thousands of reservists into the army, according to Finanz.ru.

An attempt to calm down, undertaken by the market at the end of last week, was futile and turned into a new sell-off on Monday.

The Moscow Exchange index fell another 9% after the news that the FSB is starting to restrict exit from Russia, Putin is threatening the world with nuclear weapons, and the Kremlin is preparing to completely close the borders after the end of the “referendums”.

Sberbank collapsed by 7%, Gazprom by 6.4%, Surgutneftegaz by 17%, Rosneft by 12%, Mechel by 17%, Sovcomflot by 14%, Aeroflot by 13%.

What we see on the market is convulsions arising from the actions of speculators and the population, Dmitry Polevoy, Investment Director of IC Loko-Invest, believes.

What is happening in the country, according to him, promises "economic damage up to the loss of the market of the form in which many people know it now".

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