The Traderszone Network

Published in TZ Latest News 17 July, 2014 by The TZ Newswire Staff

New sanctions cause Russian shares and ruble to tumble

The United States imposed its toughest sanctions yet on Moscow on Wednesday, and Russian stocks and the ruble tumbled on Thursday. “From the West’s perspective they could not have chosen a better time to intensify sanctions,” said Societe Generale strategist Regis Chatellier. “Until a few weeks back Russia was in a position of relative strength because there was massive pressure on oil but that is not the case any more.” The new U.S. sanctions effectively shut off medium and longer-term dollar funding for companies close to Vladimir Putin.