Letter from Moscow: June 2014

摘要

US and EU sanctions against Russia have so far been targeted primarily at individuals thought to be close to President Vladimir Putin. They have had little impact on the day-to-day operations of Russian companies. However, that could change. Western nations are mulling new sanctions specifically aimed at the energy and banking sectors. If imposed, companies in these sectors can expect a significant rise in borrowing costs. Russian companies are preparing for this possibility, but for the moment, the scope of any new sanctions is unknown.