US sanctions on oligarchs cause Russian stock market crash

US sanctions on oligarchs cause Russian stock market crash
Thanks for watching❤!
SUBSCRIBE to receive more videos for free.
US sanctions on oligarchs cause Russian stock market crash
Russia’s main share index crashed 11 per cent on Monday after the US imposed new sanctions on oligarchs and companies linked to Vladimir Putin. Aluminium giant Rusal, which is controlled by Oleg Deripaska, halved in value on the Hong Kong stock exchange on Monday, while EN+, a holding company also owned by Mr Deripaska, crashed by 40 per cent.  The aluminium tycoon has close ties to Donald Trump’s former campaign manager Paul Manafort as well as Mr Putin. Just two companies on Russia’s moex stock market were in positive territory on Monday. The widespread falls came as investors reacted to news that Washington had extended sanctions on Friday to seven oligarchs and 12 companies controlled by them, as well as 17 Russian government officials. Alexei Miller, director of state-owned Gazprom, is on the list, as is Kirill Shamalov, who is reportedly married to the Russian president’s daughter. US authorities said the restrictions were imposed in response to Russia’s “malign activities” aroun…

US sanctions on oligarchs cause Russian stock market crash