How significant is Ukraine ceasefire for Russian markets?

How significant is Ukraine ceasefire for Russia?

Following Russia's agreement to a ceasefire over the conflict in Ukraine earlier this month, James Syme, manager of the JOHCM Global Emerging Markets Opportunities fund, explores how the deal could affect the Russian stock market in 2015

After a year of conflict in Ukraine, European leaders from Russia, Ukraine, France and Germany came together on 12 February to reach a ceasefire deal. The deal involves the withdrawal of weapons and prisoner exchanges, though there is scepticism as to whether president Vladimir Putin will keep his side of the agreement.  The twin challenges of the conflict in Ukraine (with associated economic sanctions) and the fall in the price of oil - Russia's key export - have wreaked havoc on the Russian economy and its financial markets over the past year. These most recent problems are hitting a c...