The Impact of Oil Prices on the Russian Financial Market

This study looks at how changes in oil prices and Russian financial markets are connected over ten years, from 2014 to 2024, a time filled with big global tensions, like wars and sanctions. Since Russia makes a lot of money from selling oil, it's important to understand how swings in oil prices can affect its financial markets. The research uses detailed methods to analyze how global oil prices, especially during troubled times, influence the ups and downs of Russian stock market values. The study tested two ideas: firstly, that ups and downs in oil prices really affect the Russian stock markets during times of global tension, and secondly, that Russian financial markets react more sharply to changes in oil prices when there are geopolitical problems. The results support both ideas, showing that Russian financial markets are more sensitive to changes in oil prices during difficult times. This research adds to our understanding by showing how oil prices and financial market stability are linked in a country like Russia, which depends heavily on oil and faces geopolitical issues. This is important for policymakers, investors, and scholars who deal with these unpredictable markets. Key-words: Oil Prices, Russian Financial Market, Market Volatility, Oil Export Dependency, Economic Sanctions, Energy Economics.