icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
10 Oct, 2008 01:32

Russia fights to prevent panic sells

The situation on the international markets remains grim as global stocks take yet another plunge. A massive sell-off on Wall Street on Thursday, and the escalating global equity crisis, sent Asian stocks down sharply.

In Russia, the government is aiming to prevent individuals and investors from panic-selling and causing a run on banks.

The State Duma will again debate changes to the law on Friday, which would see Russian people's savings protected up to 700,000 roubles, which is almost $30,000.

At the moment, only 400,000 roubles of investment is guaranteed.

The lower house of parliament will also consider plans to stabilise the domestic financial market.

The measures are aimed to prevent Russia from being further affected by the international financial crisis.