Skip to content
Subscriber Only

Russia’s Markets Are Booming Despite Putin’s Political Crackdown

  • Kremlin’s zero tolerance of dissent doesn’t bother investors
  • Stock market rises to record ahead of parliament elections

The appeal of Russian markets is eclipsing risks from President Vladimir Putin’s crackdown on political rivals as the nation goes to the polls in parliamentary elections. 

The stock market is at a record, the ruble is on a tear, foreign ownership of local bonds has surged to a five-month high and measures of credit risk have eased back to pre-pandemic levels. Money is flowing into markets even as many opposition leaders have been forced to choose between jail and exile.