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The Moscow Exchange (MOEX), Russia's sole stock exchange, edged sharply higher on Tuesday amid reports suggesting that U.S. President Donald Trump’s team has drafted a confidential peace proposal to end the ongoing conflict between Russia and Ukraine.
Toward the close of the session, the MOEX index extended its gains above 3.7% to finish above 2,659.24 points, while the dollar-denominated RTS index also rose 3.7% to reach 1,033.7 points.
Among the sectoral indices, the Oil and Gas index led the gains with a 4.37% rise, driven by energy firms Tatneft, Surgut, and the state-owned oil company Lukoil, which was recently sanctioned by the U.S. Treasury and forced to divest all its international assets.
The surge in energy stocks reflected market optimism that a potential peace plan could eventually ease sanctions on Russian oil companies.
The Russian ruble strengthened 0.50% against the U.S. dollar during the session, with the USD/RUB exchange rate retreating to 80.65.
The rally followed reports in U.S. media that Trump’s circle is preparing a 28-point proposal that aims to resolve the Russia–Ukraine war. The draft allegedly centers on four major themes: securing peace in Ukraine, establishing security guarantees, redefining the European security architecture, and reshaping U.S. diplomatic relations with both Kyiv and Moscow.
Although details of the proposal remain undisclosed, the reports suggest that an official announcement could come soon. However, it is not yet clear how the plan would address long-standing issues such as the control of territory in eastern Ukraine.
In response to the media coverage, Kremlin Spokesperson Dmitry Peskov stated that Russia is not currently engaged in discussions with the United States regarding any new plan on Ukraine. This comment signals a gap between reported preparations and actual diplomatic engagement between the involved parties
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