Russian stock indices declined sharply on Monday as local markets followed international trading floors lower over worries about a possible Greek default.
As of 18:45 Moscow time, Russia's dollar-denominated RTS stock exchange fell 3.61 percent to 1,566.64 and the ruble-denominated MICEX index was down 1.65 percent to 1,493.19 after the stock markets lost nearly three percent in morning trade.
Global stock markets extended their losses on concerns about the debt problems facing the US and the eurozone.
The euro hit a six-month low against the dollar and a 10-year low against the yen after the resignation of a top European Central Bank official cast further doubt on the region's ability to tackle its worsening sovereign debt crisis.
Investors were turned off by the German government's announcement it plans to support the banking sector in case of default in Greece, providing compensation for losses.
