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Author Topic: COVID infections soar and oil prices plummet This caused Russian stocks and the  (Read 1007 times)

dunko

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COVID infections soar and oil prices plummet This caused Russian stocks and the ruble to fall today.

Russian stock markets and the ruble fell today. It was affected by the collapse of oil prices. which is Russia's main source of income

In addition, Russian financial markets were also affected by the COVID-19 outbreak. This led the Russian government to shut down business establishments across the country to curb a spike in the number of coronavirus cases. and the death toll in Russia

The ruble fell 0.3% to 70.97 against the dollar, while Russia's MOEX stock index dropped 0.2% to 4,279.40.

WTI crude futures fell more than 3 percent, falling off $81 today. As investors take profits from the previous price increase.

Moscow Mayor's Office announces new lockdown measures to curb the spread of COVID-19

Starting October 28, shops, bars and restaurants in Moscow will be closed. Except for stores that sell necessities such as supermarkets and drugstores.

The announcement was made After the Moscow Mayor's Office ordered yesterday that people over the age of 60 are not vaccinated against COVID-19. Stay at home for four months, while the private sector will require at least 30% of its employees to work from home after the number of COVID-19 cases. And the death toll continues to rise in Russia.

The order will come into effect on Oct. 25.

The Moscow Mayor's Office also ordered shopping centers to connect CCTV systems to Moscow's facial recognition systems so that authorities could enforce masks for residents of Moss. go which if any shopping center does not comply may be ordered to close the business

Russian President Vladimir Putin on Friday approved a proposal by the Russian government to shut down business establishments across the country for a week to curb the surge in coronavirus cases. and the death toll in Russia

The order will take effect from Oct. 30 to Nov. 7, but employees will still receive their salary during the shutdown.

President Putin said The order may take effect before Oct. 30 and may be extended beyond Nov. 7 in some regions.

Russian Deputy Prime Minister Andrey Belosov said the Russian economy would suffer 60 billion rubles ($844.75 million) if the Russian government ordered a nationwide business shutdown for two weeks. to stem the surge in the number of people infected with COVID-19 and the death toll in Russia

“It is estimated that the Russian economy will suffer losses of 4 billion rubles per day. And if there is a two-week shutdown of the business sector, there will be 60 billion rubles in damages," Belozov said.

Russia now has more than 8 million confirmed cases of COVID-19, the fifth highest in the world and more than 227,000 deaths, also fifth in the world.



Katrin Yahaya

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