17 Jul 2014
Russia sanctioned again by EU and US – Danske Bank
FXStreet (Edinburgh) - The EU and US have announced new sanctions against Russia, observed Lars Christensen, Chief Analyst at Danske Bank.
Key Quotes
“Overnight both the EU and the US have announced new sanctions against Russia in relation to the Ukrainian-Russian conflict”.
“The US government has now added more Russian companies to the list of sanctions, among them major energy companies such as Rosneft and several Russian banks”.
“The expanded sanctions in our view are likely to have a further damaging effect on the Russian economy. We believe that the Russian economy is already in recession and the continued downturn in the economy is likely to put renewed pressure on the Russian markets”.
“Overnight the rouble has fallen the most in the offshore markets in two weeks. The new round of sanctions, however, does not seem to have affected the global markets and yesterday US stocks continued their rally”.
Key Quotes
“Overnight both the EU and the US have announced new sanctions against Russia in relation to the Ukrainian-Russian conflict”.
“The US government has now added more Russian companies to the list of sanctions, among them major energy companies such as Rosneft and several Russian banks”.
“The expanded sanctions in our view are likely to have a further damaging effect on the Russian economy. We believe that the Russian economy is already in recession and the continued downturn in the economy is likely to put renewed pressure on the Russian markets”.
“Overnight the rouble has fallen the most in the offshore markets in two weeks. The new round of sanctions, however, does not seem to have affected the global markets and yesterday US stocks continued their rally”.