News Column

Russian stock prices fall after U.S., EU sanctions

July 17, 2014

Moscow's Micex stock index fell Thursday, a reaction to new sanctions imposed against Russia by the United States and the European Union.

The index fell as much as 3 percent in trading, and was off by 2.7 percent at noon in Moscow -- a reaction to U.S. sanctions for Russia's failure to de-escalate the situation in eastern Ukraine. The EU's European Bank for Reconstruction and Development also withdrew planned loans to Russia.

The U.S. actions are regarded as particularly damaging to Russia's energy and banking sectors, and the slide in prices reflects investor fears regarding the future impact of the sanctions.

Shares in the Russian energy company Rosneft fell as much as 6.2 percent on the Frankfurt, Germany, Stock Exchange, and shares in the British energy company BP, which has a 20 percent stake in Rosneft, fell by one percent.

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Source: UPI International Top News

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