Moscow—Fresh sanctions against Moscow announced by the European Union and the United States late Tuesday will heap further pressure on Russia’s economy and undermine the sentiment of investors toward a country facing growing isolation from the Western community over its role in the Ukraine crisis. While any detailed analysis of the impact of the measures on the oil and gas sector will become possible only after more details are made available, it is already clear that their consequences for the Russian economy will be significant, analysts believe. “Russia is likely to see a major negative impact from constantly broadening sanctions, with a growing flight of capital and a further slowdown in economic growth,” Moscowbased analysts at Investcafe said in a note, adding that any immediate effect on the oil and gas sector remains uncertain.
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