NEWSWATCH: “Russia’s Bondageddon” – bne Intellinews/Ben Aris
“Russian assets are nuclear toxic waste again. On April 6 the U.S. Treasury Department … released a new set of targeted sanctions aimed at some of Russia’s biggest businessmen and their companies, and unleashed chaos on the markets.
Russian assets were hot until the new sanctions, with foreign investors piling into Russia’s sovereign ruble-denominated debt as one of the best ways to make money in the global zero-interest world. But the sanctions have hit not just those companies on the new U.S. list, but all of Russia’s companies. A sword of sanctions is now dangling over everyone as those announced so far were directed in such a way is it is impossible to guess where it will fall next. This uncertainty has done far more damage than the actual sanctions which applied to a very small number of names. …”