Mucahithan Avcioglu
15 June 2026•Update: 15 June 2026
Russia’s Moscow Exchange opened lower on Monday after the US and Iran reached an agreement that eased geopolitical risk in energy markets and triggered a sharp decline in commodity prices.
The ruble-denominated MOEX Russia Index fell 0.29% in early trading, while the dollar-based RTS Index lost 0.38%.
The Russian ruble weakened 0.56% against the US dollar, with the dollar-ruble exchange rate rising to 72.68.
The decline followed news that Tehran and Washington had reached a ceasefire agreement expected to reopen the Strait of Hormuz, a key route for global oil and liquefied natural gas shipments.
Iranian Deputy Foreign Minister Kazem Gharibabadi said early Monday that Tehran and Washington had reached an agreement and that a memorandum of understanding would be signed in Switzerland on Friday.
Brent crude fell 4.9% from last week's close as investors priced in the prospect of improved energy flows and lower geopolitical risks.
The drop in oil prices weighed on Russian energy stocks, which are highly sensitive to global crude benchmarks and export revenue expectations.
Shares of Rosneft, one of Russia’s largest oil producers, declined 1.06% in early trading.
Gazprom shares, however, rose 1.18%, while Sberbank shares gained 1.12%, limiting broader losses on the exchange.
Analysts said lower commodity prices could put pressure on Russia's fiscal position and current account outlook, as oil and gas revenues remain a major source of government income and foreign currency earnings.
They also noted that the ruble’s decline reflected both weaker energy price expectations and investor caution over the broader market impact of the US-Iran agreement.
Moscow-listed assets had been supported in recent weeks by elevated energy prices and geopolitical risk premiums linked to tensions in the Middle East.
The latest diplomatic breakthrough shifted investor focus back to fundamentals, including crude prices, export revenues and the monetary policy outlook.
