New Delhi, Feb 23 (TIWN) Russian stocks plunged and the ruble slid closer to a record low on Tuesday as investors reacted to President Vladimir Putin's decision to order troops into eastern Ukraine, CNN reported.

Moscow's MOEX stock index dropped 1.5 per cent after shedding more than 10 per cent on Monday, bringing losses so far this year to about 20 per cent.  Shares in Russian oil company Rosneft were hardest hit on Tuesday, dropping 7.5 per cent. In total, more than $30 billion has been wiped off the value of Russian stocks this week alone, the report said. 

The ruble fell towards 81 versus the US dollar on Tuesday, its weakest level in more than a year, and close to its record low. 

The moves prompted Russia's central bank to announce measures to support banks, including a provision that will allow them to use last Friday's prices for stocks and bonds when reporting their financial positions. 

More pain could be on the way.