Russia’s government has created a $10 billion fund to buy shares in Russian companies: Sources
Russia’s stock markets saw a sharp fall on fears of sanctions by European and American countries and are likely to continue.
Russian government will buy in Russian stocks
Ukraine crisis ,Russia Ukraine CrisisDue to the economic sanctions around the world, the stock market (stock marketIn order to save Russian companies from a sharp decline, the Putin government has made a special plan. Reuters, quoting sources, has reported that the Russian government has asked the Finance Ministry to prepare a fund of one trillion rubles, or $ 10.3 billion. It will be prepared from the National Wealth Fund and it will be used for shares in Russian companies (stock) for purchase. Trading in the Russian markets is closed due to the fear of a sharp fall in the Russian stock market. At the same time, the Russian Central Bank has decided to prohibit the sale of Russian securities by foreign companies and individuals. However, it is feared that the shares of Russian companies will see a decline as soon as the business starts and the Russian government will use this amount to buy shares in order to recover the valuation of Russian companies.
With the onset of the crisis, the Russian market fell
With the attack on Ukraine, there was a sharp decline in the Russian stock market. Even before the announcement of sanctions, the value of investors’ investments in Russian markets had fallen by $259 billion. At the same time, the ruble also reached record levels. Many stocks have sunk up to 45 percent during this period. At the same time, the restrictions of banks and financial institutions have become a risk on $ 500 billion. At the same time, with the signs, many companies have also announced to sell their stake in Russian companies. It is clear from these signs that further decline will be seen in the Russian markets. To reduce the impact of this fall, the Russian government has stopped trading in the stock markets. At the same time, the Russian government is waiting for funds to stop any major fall when the markets open, so that the selling of shares in Russian companies can be stopped.
