Russian Markets Rally After Putin Speech

wochit politics
May 23, 2014 AT 2:45 PM
Russian markets are rallying after President Vladimir Putin said he would "respect the choice of the Ukrainian people" in a presidential vote on Sunday. Russian stocks rose, with the MICEX index up 0.6 percent, after Putin's Friday speech in St. Petersburg. The ruble rose 0.6 percent against the dollar to 34.1 rubles, its strongest level since late February, before Russia made moves to annex Ukraine's Crimean Peninsula in early March.