On Tuesday, Russian stocks fell following signs that President Vladimir Putin could escalate the war in Ukraine, following the success of Ukraine's recent counteroffensive.
Lawmakers are advancing new legislation to heighten punishments for military crimes, such as desertion, damage to military property, and insubordination.
The Russian President also announced the partial mobilization of up to 300,000 reserves, raising fears of full mobilization.
Russian officials also plans to hold referendums in order to fully annex occupied territory in eastern and southern Ukraine, further conflict could thus be claimed as attacks on Russian soil.
The ruble-denominated MOEX stock index fell 8.7% to reach its lowest level since August 16, while the dollar-denominated RTS stock index fell 9.2%.
