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>> Aggressive new US sanctions on Russia are again having an impact on its markets and currency. The ruble fell sharply for a second day on Tuesday, shedding over 3% of its value against the dollar despite rising oil prices. Fearing more action, investors continued an asset sell-off. The fresh sanctions targeting so called Russian oligarchs, that is the business, and political elite close to President Vladimir Putin.
Were announced on Friday, in response to Russia's alleged meddling in the 2016 US election. Andrei Ostric, at the Reuters Moscow bureau.>> The sanctions are indeed very bad for Russian businesses, both at home and globally. Sanctions as some analysts put it, create a sense that Russia is becoming toxic again.
And investors who don't want to be punished by the US law will stop dealing with Russian companies, and Russian assets.>> The Russian government said on Tuesday, it would take steps to minimize the fall out. And dismissed stock and currency weakness as short-term volatility. But analysts say the sanctions threaten to derail a fragile recovery in Russia's economy, which had just begun to take hold after the Kremlin's last confrontation with the West in 2014.
Adding to the swirling uncertainty is how some of the businessmen this time around were targeted.>> The latest round of sanctions created a situation when Russian companies, all Russian companies can be put on the list of US penalties without knowing that in advance. These US sanctions create big uncertainty for the market for maybe months ahead.
>> The financial shock poses a potential political problem for the freshly re- elected Putin, who's promised to raise living standards and invest big in infrastructure, health and education. Now the money earmarked for such plans may be spent by the government on bailing out sanctioned Russian firms.