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Russia’s stocks to recover with peaceful settlement of Ukraine’s crisis — view

March 03, 2014, 15:39 UTC+3 MOSCOW
Irina Prokhorova expressed confidence that all countries would seek peaceful settlement, as “nobody needs another crisis”
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Irina Prokhorova (archive)

Irina Prokhorova (archive)

© ITAR-TASS/Sergei Bobylev

MOSCOW, March 03. /ITAR-TASS/. Peaceful settlement of Ukraine’s crisis will improve the situation on Russia’s stocks, says Irina Prokhorova, leader of Civil Platform and sister of the opposition party founder and businessman-turned-politician Mikhail Prokhorov.

Cataclysms like Ukraine’s simmering crisis always affect stock markets, she said on Monday. “Of course, this conflict affects stock markets. If everything ends in peaceful talks and stabilization, I think, the stocks will also benefit from this,” Prokhorova said.

She expressed confidence that all countries would seek peaceful settlement, as “nobody needs another crisis.”

Russia’s stocks tumbled on Monday, although the Central Bank hiked its key lending rate to 7% from 5.5 percent. Russia’s MICEX index dropped by 11.05% to 1,285.21 points, what had become its minimum since July 2013. The RTS index declined by 9.4% to 1,122.6 points, its minimum since September 2009.

Last weekend, Russia announced about possible use of its armed forces in Ukraine to protect Russian citizens, compatriots and servicemen deployed in Crimea.

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