The Moscow stock market on Tuesday fell by almost 9% after the pro-Russian authorities announced referendums on joining Russia in four Moscow-controlled regions in the east and south of Ukraine, writes AFP.

According to data from the financial platform, the main index Moex (in rubles) closed down 8.84% to 2,215.67 points, while RTS (denominated in dollars) fell by 9.31% to 1,154.17 points.

These were the biggest falls since the beginning of the Russian offensive on Ukraine on February 24, when markets fell by 33%.

That day, nearly $190 billion evaporated in one day, and the next day the stock market decided to shut down most of its activity for several weeks.

Since then, Russia’s central bank has imposed strict controls on market operations, especially on traded currencies.

The share price of the Russian giant Gazprom, controlled by the majority of the Russian state, fell by 10.56% on Tuesday amid a new escalation between Moscow and Kyiv.

The ruble, which has been strengthening for several months, has not budged against the dollar and the euro.

According to data from the financial platform, the main index Moex (in rubles) closed down 8.84% to 2,215.67 points, while RTS (denominated in dollars) fell by 9.31% to 1,154.17 points.

These were the biggest falls since the beginning of the Russian offensive on Ukraine on February 24, when markets fell by 33%.

That day, nearly $190 billion evaporated in one day, and the next day the stock market decided to shut down most of its activity for several weeks.

Since then, Russia’s central bank has imposed strict controls on market operations, especially on traded currencies.

The share price of the Russian giant Gazprom, controlled by the majority of the Russian state, fell by 10.56% on Tuesday amid a new escalation between Moscow and Kyiv.

The ruble, which has been strengthening for several months, has not budged against the dollar and the euro.

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