US sanctions trigger Russian market fall
Russian stocks and government bonds fell today after the US and European Union increased sanctions against Russian politicians and business leaders.
The Micex index was off over 2% by midday, while the RTS was down 2.4%.
The falls came after the US Treasury yesterday imposed sanctions on oil billionaire Gennady Timchenko, whose energy-trading company has close links to Russian president Vladimir Putin. He was one of 20 added to the US sanctions list.
The move is part of a wider effort to isolate key Russian figures after Russia annexed the Ukrainian region of the Crimea.
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