Russian Economy Takes Hit As U.S., EU Impose New Sanctions For Crimea Seizure from Reuters
A big excerpt is in order here!
"Russian shares fell sharply on Friday as investors took fright at tougher than expected U.S. sanctions against President Vladimir Putin's inner circle over Moscow's seizure of Crimea from Ukraine. ... In one immediate consequence, U.S. credit card companies Visa and MasterCard stopped providing services for payment transactions with Russia's SMP bank, owned by the Rotenberg brothers, the bank said. President Barack Obama said Washington was also considering sanctions against key economic sectors including financial services, oil and gas, metals and mining and the defense industry, if Russia made military moves into eastern and southern Ukraine. Diplomats said the mere mention of such a possibility would chill investment in Russia, charging an immediate price for Moscow's action in Crimea and serving as a potential deterrent to going further.
A big excerpt is in order here!
"Russian shares fell sharply on Friday as investors took fright at tougher than expected U.S. sanctions against President Vladimir Putin's inner circle over Moscow's seizure of Crimea from Ukraine. ... In one immediate consequence, U.S. credit card companies Visa and MasterCard stopped providing services for payment transactions with Russia's SMP bank, owned by the Rotenberg brothers, the bank said. President Barack Obama said Washington was also considering sanctions against key economic sectors including financial services, oil and gas, metals and mining and the defense industry, if Russia made military moves into eastern and southern Ukraine. Diplomats said the mere mention of such a possibility would chill investment in Russia, charging an immediate price for Moscow's action in Crimea and serving as a potential deterrent to going further.
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