MOSCOW: Russia's main stock market and the ruble fell on Monday as Western countries fear Moscow is preparing for an imminent invasion of Ukraine.
The RTS index was down more than four percent in early afternoon trading, as other world markets also fell sharply. It has shed 12 percent since the start of the year.
The Russian currency, meanwhile, traded at more than 77 rubles to the dollar. It had passed the 80 rubles to the dollar mark in January, a first since November 2020.
The euro stood at about 87 rubles.
The Russian central bank suspended purchases of foreign currency last month to limit the losses.
Highlighting the growing market concerns, the ruble and stock market fell even though oil prices soared past $95 per barrel, a rise that usually helps shares and the currency of the top crude producing country.
The G7 group of most developed countries warned Moscow on Monday that they stand ready to impose sanctions impacting Russia's economy if it pursues any further military aggression against Ukraine.
Kyiv is seeking an urgent meeting with Russia to explain why it has deployed more than 100,000 soldiers to Ukraine's borders while arguing with NATO about its post-Soviet expansion into countries once under the Kremlin's domain.
Washington reaffirmed its warning Sunday that Russia was now ready to strike at "any moment" with an assault that would likely start with "a significant barrage of missiles and bomb attacks".