Comment on Western Banks Have Basically Gone On Strike Against Russia, Cutting Off Its Credit

Western Banks Have Basically Gone On Strike Against Russia, Cutting Off Its Credit

The amount of debt issued by Russian companies has collapsed due to fears of Western sanctions over the crisis in Ukraine. In the first three quarters of this year the total amount of foreign-currency debt plummeted 83% compared to the same period last year. Nomura Securities estimates that the total value of sales was $9.8 billion so far in 2014 compared with $52.2 billion sold through the whole of last year.

 

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