Russian Stocks Plummet as Trump Accelerates Ukraine Peace Deal Timeline

Russian stocks experienced a decline on Monday after U.S. President Donald Trump declared he would reduce the 50-day ultimatum he previously issued to Vladimir Putin regarding the war in Ukraine to a mere 10 to 12 days.

The Moscow Exchange (MOEX) Index fell by 1.8% in just over an hour, losing $1.4 billion in market capitalization as traders reacted to Trump’s announcement of the shortened ceasefire timeline.

The index decreased from 2,777.3 to 2,727.2 points between 2:55 p.m. and 4:08 p.m. local time.

Major blue-chip firms faced the worst of the sell-off. Gazprom shares dropped by 2.77%, Novatek declined by 3.2%, and Aeroflot plummeted 4% following the cancellation of numerous flights attributed to what Ukrainian and Belarusian hackers alleged was a synchronized cyberattack.

Other major companies like Sberbank, Lukoil, Sovcomflot, and Mechel also reported losses ranging from 1% to 3%.

The impact of the sell-off extended into the currency exchange market, where the ruble experienced considerable depreciation. The Chinese yuan rose nearly 2% to 11.27 rubles, while the U.S. dollar increased by 2.1%, reaching 81.05 rubles.

Earlier this month, Trump had urged Moscow to come to an agreement with Kyiv by September 2 or face severe economic repercussions.

However, President Putin has shown no intentions of retreating, with the Kremlin affirming over the weekend that it would persist with its so-called “special military operation” until all designated military objectives are fulfilled.

On Monday, Trump informed reporters that the revised deadline would be 10 to 12 days, which he mentioned he would probably announce “tonight or tomorrow.” He also indicated that the U.S. would impose new sanctions and potentially additional tariffs if Russia failed to comply with the demand.