Call between Putin and Trump Boosts Russian Billionaires' Wealth

Following the phone conversation between Donald Trump and Vladimir Putin, the Russian stock market surged dramatically, gaining $2.2 billion. The Moscow Exchange Index surpassed 3100 points for the first time in several months, while shares of major Russian companies significantly increased in value, reports NewsBox.

The Russian stock market responded to the news of the first phone conversation between Donald Trump and Vladimir Putin with a sharp increase in stock prices. On Wednesday evening, the Moscow Exchange Index surpassed the 3100-point mark, reaching its highest value since July of the previous year.

According to trading data, at 8:36 PM Moscow time, the index was up by 3.1% compared to the previous day's close. Leading the growth were shares of major Russian companies: Sberbank rose by 4%, Gazprom by 7.9%, Rosneft by 2.1%, and Novatek by 3.8%. Notably, shares of Severstal (+2.7%), Sovcomflot (+3.5%), and Aeroflot (+3.1%) also saw significant gains.

The total market capitalization of the Moscow Exchange Index, which includes 50 of the largest Russian companies, increased by 209 billion rubles (about $2.2 billion). Experts attribute this growth to expectations of a potential improvement in relations between Moscow and Washington following the leaders' discussions.