Russian shares opened lower on Tuesday after Ukraine's president said he would renew offensive operations against pro-Russian rebels in eastern Ukraine following the end of a ceasefire.
At 10:05 a.m. Moscow time, the ruble-denominated MICEX index was down 0.8 percent at 1,464 points and the dollar-denominated RTS fell 1.3 percent to 1,348 points.
Ukrainian President Petro Poroshenko, who accuses Russia of fanning violence in eastern Ukraine, dismissed Moscow's offers to defuse the crisis and blamed the rebels for failing to follow a peace plan he had outlined.
The speaker of Russia's lower house of parliament called Tuesday for a new ceasefire in eastern Ukraine, Interfax reported.
The ruble was about 0.6 percent weaker against the dollar at the opening.
Russia could face more sanctions from the U.S. and European Union on top of existing asset freezes and visa bans unless pro-Russian rebels act to wind down the crisis in Ukraine's Donetsk and Luhansk provinces.
See also:
Poroshenko Ends Cease-Fire, Promises to Attack Rebels in East Ukraine
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.