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    The Russia-Ukraine War Caused the Largest Russian Companies to Lose 99% in Value

    The Russian economy does not seem to be able to recover easily, even if the Ukraine war is won. Because, according to the examinations, energy and finance companies, which form the backbone of the country’s economy, lost about 99 percent in value in just a few days. Here are the stock prices of the Russian giants, which fell with the war…

    The war between Russia and Ukraine, which has been going on for more than a week, seems to create a heavy balance sheet for Russia in economic terms. Although the Kremlin is trying to take various measures regarding the issue, it seems that these measures are not enough. Because, looking at the interval between February 24 and March 2, it was determined that the loss of value of giant Russian companies reached 99 percent. Companies seem doomed to fail. 

    For example, the shares of Gazprom, the world’s largest natural gas company, lost 99 percent in value during the war, falling from $ 4.7 to $ 0.051. The shares of Sberbank, known as the largest bank in the country,  shared the same fate as Gazprom and lost 99 percent of its value. Sberbank shares have declined from $ 2.5 to $ 0.015 levels.

    Russian Economy

    In fact, the Russian economy is based on the energy sector. But post-war sanctions affected nearly every industry. For example, Magnit, one of the largest retail companies in the country, lost 99 percent in value in this process. Shares of X5 Retail, which were trading at $10.6 before the war, are now trading at $0.31 .

    Russian stock market has been closed for days

    Moscow decided to close the stock market as the stocks collapsed. The decision taken on February 28 is still in practice. So the Moscow Stock Exchange has been closed since February 28. No one knows what will happen when it opens. Because the loss of investors trading in Russian stock markets due to the war cannot even be predicted anymore. It is not yet known how Russian President Vladimir Putin will overcome all this.

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