The rally has been attributed to the devaluation of the ruble and rising oil prices Russia’s ruble-based MOEX index exceeded 3,000 points on Friday, marking its highest level since February 22, 2023, the day before Moscow launched its military operation in Ukraine. The index was 0.7% higher at 3008.61 points. Since the beginning of 2023, the MOEX has increased by about 40%. The stock market has been growing since a collapse following the announcement of partial mobilization in September 2022. Analysts told Russian business daily Kommersant that the rally had occurred due to a dropping ruble, rising oil prices, and
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