Russia’s pro-Putin party set to win election as Ukraine exposes war’s growing reach into Moscow
Ukraine launched more than 1,000 drones at Russia on the State Duma election’s final day, including hundreds targeting Moscow.
Russia's State Duma election is expected to see the pro-Putin party secure a win, but the timing and scale of Ukraine's drone attacks on Russian soil, including Moscow, serve as a reminder of the ongoing conflict's unpredictable nature and its potential to disrupt the country's stability. The attacks, which Ukraine launched on the final day of the election, highlight the war's growing reach into Russia and may impact investor sentiment towards Russian assets.
The drone attacks on Moscow, in particular, are significant as they mark a escalation of the conflict, with the city being a major hub for Russian business and finance. This development may concern investors, who have already been cautious about investing in Russia due to the country's economic struggles and international sanctions. The outcome of the election is unlikely to change the country's trajectory, with the pro-Putin party expected to maintain its grip on power.
Looking ahead, investors will be watching for any further escalation of the conflict and its impact on Russia's economy. The country's economic data, including GDP growth and inflation figures, will be closely monitored for any signs of strain. Additionally, any developments on the sanctions front, including potential new measures from Western governments, could also affect investor sentiment towards Russian assets.
Originally reported by cnbc.com. FundNews adds analysis for finance & markets readers.