Russia's MOEX Jumps 3.15% Even as Europe Snubs Its Finance Minister

The MOEX Russia Index rose 3.15% at the close of trade on Aug. 31, 2026. The rally came despite a diplomatic snub at a US-hosted G20 meeting, where European officials excluded Russian finance minister Anton Siluanov from the event photo, even though he held what was described as a 'productive' meeting with US Treasury Secretary Scott Bessent. The mixed signal matters because Russian markets appear to be pricing in the prospect of eased sanctions or renewed dialogue with Washington, even as European allies keep Moscow at arm's length. Ukraine is separately lobbying US lawmakers on a sanctions bill whose fate is still undecided. What remains unresolved is whether the Bessent meeting produces any concrete policy shift. The sanctions bill's outcome in Congress, and whether it tightens or loosens restrictions on Russian finance, will determine whether Monday's rally in Moscow was justified.