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Russian indices lose up to 11% at the open

Russian indices lost more than 8% at the opening, as Moscow recognized the independence of the pro-Russian separatist regions of Ukraine.

The Russian stock market sank on Tuesday morning, the indices lost between 8% and 11% at the opening, after Moscow recognized the independence of pro-Russian Ukrainian separatist regions, amid the Russian-Western crisis.

The main index of the Moscow Stock Exchange, RTS (which is in dollars), fell 10.8% at 07:13 GMT, and 32.5% since the beginning of the year.

IMoex, denominated in rubles, fell by 8.8%.

Russian money comes out

The Russian currency, which had fallen sharply on Monday evening, also lost ground on Tuesday.

At 07:00 GMT, the ruble was trading at 90.58 to the euro and 80.12 to the dollar, slightly below the 90.8 to the euro and 80.4 to the dollar, which was established on 26 January.

Russian President Vladimir Putin on Monday recognized the independence of pro-Russian separatists in eastern Ukraine, fueling a firestorm amid growing tensions with Western powers that opposed the decision and vowed sanctions against Russia.

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