Support The Moscow Times!

Russian Shares Take a Hit After Poroshenko Ends Ukraine Cease-Fire

The ruble-denominated MICEX index was down 0.8 percent.

Russian shares opened lower on Tuesday after Ukraine's president said he would renew offensive operations against pro-Russian rebels in eastern Ukraine following the end of a ceasefire.

At 10:05 a.m. Moscow time, the ruble-denominated MICEX index was down 0.8 percent at 1,464 points and the dollar-denominated RTS fell 1.3 percent to 1,348 points.

Ukrainian President Petro Poroshenko, who accuses Russia of fanning violence in eastern Ukraine, dismissed Moscow's offers to defuse the crisis and blamed the rebels for failing to follow a peace plan he had outlined.

The speaker of Russia's lower house of parliament called Tuesday for a new ceasefire in eastern Ukraine, Interfax reported.

The ruble was about 0.6 percent weaker against the dollar at the opening.

Russia could face more sanctions from the U.S. and European Union on top of existing asset freezes and visa bans unless pro-Russian rebels act to wind down the crisis in Ukraine's Donetsk and Luhansk provinces.

See also:

Poroshenko Ends Cease-Fire, Promises to Attack Rebels in East Ukraine

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.