NEWSWATCH: “The fate of Russian stocks hinges on politics and oil” – CNBC/Rebecca Ungarino

File Photo of Outdoor Electronic Sign with Russian Exchange Data

“… The Moscow composite index is down nearly 8 percent year to date, underperforming the U.S. by nearly 15 percent as optimism around the possibility of the removal of trade sanctions against Russia fades. And crude oil, which weighs heavily on the Russian economy, has traded in a narrow range so far this year, offering no help to Russian stocks. There is perhaps no trade more political right now than the Russian trade, said BK Asset Management’s managing director of foreign exchange strategy Boris Schlossberg. Russian equities would only look attractive here should a perfect storm of warming U.S.-Russia political relations, a thawing trade embargo and strong crude oil strike. …”

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