Russian stocks remain under pressure

Frankfurt Russian stock prices slipped further in trading on Tuesday. The RTS index fell 7 percent after crashing 13 percent the previous day. Although the pace of the slide slowed down, the escalation in the Ukraine conflict by Russia left its mark. The ruble and Russian bonds were relatively stable after the previous day’s declines.

Russian President Vladimir Putin officially recognized the two regions in eastern Ukraine occupied by separatists on Monday evening and announced that troops would be sent to the areas. This escalation of the conflict led to the market slumps.

In the case of the well-known large companies, the price losses on Tuesday were very different. The course of Sberbank fell by eleven percent. At the gas company Gazprom, the discount was four percent lower. The largest oil company Rosneft lost only one percent.