Putin: Russian authorities ready to provide liquidity to market

MOSCOW, Aug 9 (PRIME) — Russian financial authorities are ready to support the market with liquidity if necessary, Russian Prime Minister Vladimir Putin told reporters Tuesday.

Specifically, the Finance Ministry and the Central Bank of Russia (CBR) are monitoring the current unstable situation on the domestic and world market and could support them, Putin said.

On Monday, the Russian ruble weakened 89 kopecks against the euro and 70 kopecks against the dollar following a drop in oil prices on growing concerns of a new global recession resulting from the recent downgrade of the U.S. sovereign rating by Standard Poors (SP).

The Russian stock market closed with a decline in major stock market indices on Tuesday, as the RTS index fell 2.87% to 1,610.22 and the MICEX index lost 0.13% to 1,497.81. On Monday, the RTS index dropped 7.84%, while the MICEX index was down 5.50%.


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