During the morning session on October 23, shares of leading Russian oil companies – Lukoil and Rosneft – are showing a significant decline in value amid the introduction of a new wave of American sanctions. Financial experts advise investors to urgently divest from these companies’ securities due to the likelihood of further deepening declines in their prices.
This is reported by Finway
Stock Decline Amid Sanctions
According to data from the Investing portal, Lukoil’s quotes have dropped by 4.37% since the start of trading. Rosneft is also among the leaders in decline, losing 3.21% in value. The trend of decreasing value is also observed in other Russian companies, including Gazprom, VTB Bank, and Sberbank, which are all in the “red zone” at the start of the trading session.
Recommendations for Investors
Analysts recommend actively selling shares of Lukoil and Rosneft.
According to experts, the continuation of sanctions pressure from the US may further exacerbate negative trends in the Russian stock market. In light of this, owners of the mentioned companies’ securities are advised not to delay selling in order to minimize potential losses.