Russia stocks lower at close of trade; MOEX Russia Index unchanged

A recent Danish intelligence report has raised alarms regarding the economic leverage and military threats posed by the U.S. under the Trump administration, highlighting concerns over the growing influence of China and Russia in reducing Western dominance globally.

The European Union has decided to indefinitely freeze Russian assets to prevent Hungary and Slovakia from vetoing financial support for Ukraine, which is crucial amid the ongoing conflict. This freeze will remain until Russia ceases its military actions and compensates Ukraine for damages.

The European Union has made a significant decision to utilize frozen Russian assets as collateral to support Ukraine's defense efforts amid the ongoing conflict with Russia. This move is part of a broader strategy to provide financial assistance to Ukraine, which is facing a severe economic crisis due to the war.

The MOEX Russia Index closed down 0.61%, reflecting a negative sentiment in the Russian stock market as trading ended. This decline follows a recent trend of fluctuating performance, with the index experiencing a drop of 1.75% in the previous session, indicating ongoing market volatility.

Crude oil futures ended the week lower, marking consecutive losses as the market grappled with ongoing concerns about oversupply. The potential for a peace deal between Russia and Ukraine has diminished the geopolitical premium that typically supports oil prices, leading to a decline in market confidence.

The European Union has agreed to indefinitely freeze Russian assets, a decision aimed at facilitating financial support for Ukraine amidst its ongoing conflict with Russia. This move is intended to eliminate potential vetoes from Hungary and Slovakia regarding the allocation of funds to Ukraine, which is facing a significant cash shortfall.

Russia's Central Bank has filed a lawsuit in Moscow against Euroclear, the depository holding frozen Russian assets, as a warning to European officials who are considering using these assets to finance a loan for Ukraine. This legal action underscores the tensions surrounding the financial strategies being employed in response to the ongoing conflict in Ukraine.

The European Union has endorsed an indefinite freeze on Russian assets, a decision made in light of Ukraine's urgent financial needs as it faces a cash shortfall of approximately €135.7 billion over the next two years due to ongoing conflict. This move aims to bolster Ukraine's economy amidst the prolonged war with Russia.