‘Russia’s Rubicon crossed’ after Biden sanctions

By Mariam Meskin, Sam Kerr
15 Apr 2021

Equity and debt markets were fretting on Thursday over the implications of new US sanctions against Russia. A prohibition of US investment in Russian sovereign bonds marked an escalation in tensions, threatening sovereign borrowing costs. It could also damage Russian companies’ chances of funding in the capital markets, write Mariam Meskin and Sam Kerr.

On Thursday morning, the US Treasury Department and White House announced new sanctions against Russia, targeting Russian sovereign debt in roubles and a number of IT firms linked to Russian security services as punishment for cyber attacks and election meddling.

The sanctions fell short of many people’s worst ...

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