JRL NEWSWATCH: “Toast of Emerging Markets in 2021, Russia Gives Pause” – Bloomberg
“… For all the gains [Russia’s] assets … made in the past 12 months, a military incursion into Ukraine [reportedly] would transform the narrative instantly …. Unprecedented U.S. and European sanctions would leave Russia off-limits to many investors, rendering the benefits of rising commodity prices, record international reserves and the central bank’s hawkish turn all but irrelevant. … [T]ensions with the U.S. and Europe haven’t been this fraught since [the 2014 seizing of] Crimea …. [S]anctions imposed then [reportedly] would pale in comparison with those currently being [considered], …. [e.g.,] harsher limits on Russian banks and exclusion from key international transaction networks such as SWIFT. …”