Russian President Vladimir Putin announced Wednesday that future payments for his country’s gas-exports must be made in rubles. Many see an effort to undermine Western sanctions and prop-up Russia’s struggling currency.
Russia’s benchmark stock index jumped as much as 10 percent in its first day of trading since February 28. That’s when Moscow halted trading after Russian stocks experienced one the steepest selloffs in market history. Since then, Moscow has been hit with a slew of Western sanctions over its invasion of Ukraine. While Russian stocks shot higher on Thursday, trading has been heavily restricted to prevent further plunges.
00:00 Russia demands ruble payments for gas exports
05:35 Russian stock market partially reopens
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