Michaela
Russia’s Moscow Exchange Group (MOEX) has suspended evening trading on the stock market after discovering issues with data transmission.
In a February 13 statement, MOEX announced that the evening trading suspension was coordinated with market participants. The decision follows a surge in the Russian ruble and stocks earlier in the day, driven by a phone call between U.S. President Donald Trump and Russian President Vladimir Putin, during which they discussed efforts toward peace in Ukraine.
Analysts attribute Thursday’s rally in Russian markets to the discussions between the two presidents and their optimistic remarks about resolving the conflict in Ukraine.
The Russian ruble strengthened by 2.69% against the US dollar, bringing the exchange rate below 92. Meanwhile, the MOEX index surged 6.56%, surpassing 3,220 points, while the dollar-denominated RTS Index also climbed 6.56%, reaching over 1,079 points.
According to the Kremlin, the two leaders agreed to maintain communication following their 90-minute phone call. Meanwhile, President Trump noted that he also held a separate conversation with Ukrainian President Volodymyr Zelenskyy to discuss efforts toward ending the war in Ukraine.
US Sanctions on Russia
President Trump was reportedly ready to escalate U.S. sanctions on Russia in an effort to push for an end to the war in Ukraine, according to the New York Post. Retired General Keith Kellogg, Trump’s special envoy for the conflict, stated that the administration was considering stronger economic measures against Moscow.
Kellogg stated that existing sanctions on Russia are being weakly enforced and suggested that the administration is ready to intensify economic, diplomatic, and military pressure on Moscow.
However, reports have emerged suggesting that the Trump administration is dismantling a task force originally created to pursue Russian oligarchs in response to Russia’s 2022 invasion of Ukraine.
Although President Trump has signaled the possibility of imposing further sanctions on Russia, no new measures have been officially confirmed, particularly amid recent developments.
As of now, there is no clear indication that President Trump’s proposed sanctions on Russia have directly impacted the cryptocurrency market. However, Russia has been exploring the use of digital assets to mitigate the effects of international sanctions.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
