Russian oil giants' stocks crash after strikes on Moscow
Photo: Ukrainian drones launched a large-scale attack on Moscow (Getty Images)
Following a large-scale drone attack on Moscow on June 18, the Russian stock market crashed. Shares of Gazprom, Rosneft, and Lukoil plummeted in value, according to stock exchange monitoring data.
According to data released by the MOEX index, nearly all key players in the Russian energy sector were in the red.
Oil companies suffered the biggest losses
Among the largest companies, the declines were as follows:
- Rosneft – down 2.54% (to 328.50 rubles)
- Gazprom – down 2.01% (to 107.61 rubles)
- Tatneft – down 1.79% (to 532.60 rubles)
- Lukoil – down 1.71% (to 4,457 rubles)
- Novatek – down 1.39% (to 1,003.60 rubles).
Shares of Surgutneftegaz (-0.99%), Sberbank (-0.70%), and other major Russian companies also fell.
Photo: data released by the MOEX index
What stock market data shows
Among the energy giants, Rosneft is suffering the biggest losses. The company topped the list of the biggest decliners among the index’s largest issuers.
Read also: 'Whole of Moscow is burning': Aftermath of Ukraine's biggest attack on the Russian capital
At the same time, all five of Russia’s largest oil and gas companies are seeing a synchronized decline in their stock prices, indicating a negative reaction from investors to the events surrounding the Russian capital and strategic infrastructure.
What happened in Moscow
On the morning of June 18, Moscow came under a large-scale drone attack. According to Russian media reports, more than 180 drones were flying toward the Russian capital.
The Moscow oil refinery in Kapotnya was hit. A massive fire broke out at the facility.
Due to the attack, the so-called Carpet plan was activated, and operations at Sheremetyevo, Domodedovo, Vnukovo, and Zhukovsky airports were temporarily restricted. In total, more than 500 flights were canceled.
Ukrainian President Volodymyr Zelenskyy called the attack a just response to Russian strikes on Ukrainian cities and towns.
Meanwhile, the General Staff of the Armed Forces of Ukraine confirmed the strike on the Moscow oil refinery and released a complete list of Russian targets hit today.
