After the talks in Saudi Arabia, the ruble fell in Russia and shares of leading companies fell

Even after Russia's talks with Saudi Arabia, the ruble has fallen in value in Russia. The value of shares in most Russian companies has also fallen, despite the fact that they have been showing growth over the past week. The fall affected the country's leading companies in various sectors of the economy.

For example, as of the evening of February 18, shares of the gas monopoly Gazprom fell by 3.84%. And Novatek, a natural gas producer in Russia, fell by 2.94%, according to OBOZ.UA monitoring.

Shares of VTB Bank fell by 5.73%. And Sberbank – by 1.85%. In addition:

• IT company Yandex – by 3.36%;
• "Rosneft" – by 2.29%;
• Sovcomflot, Russia's largest shipping company, up 4.01%;
• Magnit retail chain – by 1.73%;
• "Aeroflot" – by 3.17%, etc.

In addition, the Moscow Exchange index fell by 1.48% to 3,259 points. This is the main indicator for assessing the state of the financial market.

The ruble also fell. According to the Russian media, the dollar reached 92.1 rubles after the talks, although at the start of the negotiations, the dollar was worth 91.3 rubles.

Russians are being prepared for belt tightening

At the same time, the Russian economy is facing serious challenges. In particular, the Central Bank of the Russian Federation predicts only 1-2% GDP growth against 4% in 2024.

And while in 2023-2024 the Kremlin could demonstrate GDP growth through huge investments in the military industry, this mechanism no longer works. Thus, according to the Center for Countering Disinformation, Russia has actually faced a choice: spend money to support the economy or continue the war, and chose the latter.

"The Russian government openly says that since the end of 2024, the Russian economy has entered a "period of slowdown." The Russian authorities have officially begun to prepare Russians for the fact that the quality of life will continue to deteriorate. The state has money for only one thing: war or economic support. And the Kremlin chooses war," the analysts said.

As OBOZ.UA reported earlier, bread prices have risen sharply in Russia. Since the beginning of the year, bakery products have risen in price by almost 30% on average. And prices will continue to rise by about 20%.

Only verified information is available in our Telegram channel OBOZ.UA and in Viber. Do not fall for fakes!