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RUSSIA: Moscow Exchange Index Hits Lowest Level Since May 2023

RUSSIA
CEEMEAEM BulletRussiaBulletGlobalEmerging Market NewsRegion
  • Kommersant report that the Moscow Exchange index fell below 2,600 points for the first time since May 2023. The index has been declining for the fourth month in a row, losing almost 27% in the process.
  • EU imports of LNG fell 27% y/y in August to the lowest figure since the fall of 2021, Vedomosti report, as buyers opt for cheaper pipeline gas. EU imports of pipeline gas, meanwhile, rose 5% in the first seven months of 2024, driven mainly by supplies from Russia, which grew by 24% through Ukraine and 44% through the TurkStream pipeline.
  • Russian President Vladimir Putin visits Mongolia despite an outstanding arrest warrant issued by the International Criminal Court. There he will meet the Mongolian President, where the pair will discuss “issues of relations and cooperation,” the Mongolian government said without elaborating. Meanwhile, the Eastern Economic Forum gets under way.
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  • Kommersant report that the Moscow Exchange index fell below 2,600 points for the first time since May 2023. The index has been declining for the fourth month in a row, losing almost 27% in the process.
  • EU imports of LNG fell 27% y/y in August to the lowest figure since the fall of 2021, Vedomosti report, as buyers opt for cheaper pipeline gas. EU imports of pipeline gas, meanwhile, rose 5% in the first seven months of 2024, driven mainly by supplies from Russia, which grew by 24% through Ukraine and 44% through the TurkStream pipeline.
  • Russian President Vladimir Putin visits Mongolia despite an outstanding arrest warrant issued by the International Criminal Court. There he will meet the Mongolian President, where the pair will discuss “issues of relations and cooperation,” the Mongolian government said without elaborating. Meanwhile, the Eastern Economic Forum gets under way.