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Ukraine targets Russians with sanctions
Journal Staff Report

KYIV, April 11 - Ukraine will impose sanctions on Russian oligarchs including Oleg Deripaska, following the lead of penalties ordered by the United States, President Petro Poroshenko said on Tuesday.

A new round of U.S. sanctions, announced on Friday, target officials and business people around Russian President Vladimir Putin, in response to alleged Russian meddling in the 2016 U.S. election.

"The sanctions will be introduced and will be harmonized with the decision of the U.S. government, Poroshenko said in a Facebook post. Deripaska and other Russian oligarchs, who, in particular, are rather active in Crimea or supply arms to the Russian armed forces, will be put on the sanctions list."

Russias ruble suffered its biggest daily fall in over three years on Monday and stocks in major Russian companies also slid, as investors reacted to a new round of U.S. sanctions targeting some of Russias biggest tycoons.

The sanctions, announced on Friday, target officials and businesspeople around President Vladimir Putin in an aggressive response to alleged Russian meddling in the 2016 U.S. election.

The impact of the new measures could threaten Russias fragile economic recovery, which was only just beginning to take hold after a wave of sanctions against Russia introduced in response to its annexation of Crimea in 2014, Reuters reported.

Russias currency briefly dipped more than 4 percent on Monday, its biggest daily percentage fall since January 2015.

Russian aluminum tycoon Oleg Deripaska saw the share price of one of his companies halve after he joined six other so-called oligarchs sanctioned together with their businesses, as well as 17 political figures.

Rusal leans heavily on Western clearing systems, correspondent banks and creditors to provide and maintain its debt - which stood in net terms at $7.6 billion at the end of last year - and those relationships will be put under strain by the sanctions.

The sanctions mean Russian companies face the prospect of losing access to the U.S. market, which accounted for around 14 percent of Rusals revenue last year, according to analysts at Promsvyazbank. (rt/ez)

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Currencies (in hryvnias)
  26.03.2019 prev
USD 26.89 26.96
RUR 0.417 0.423
EUR 30.45 30.47

Stock Market
  25.03.2019 prev
PFTS 553.3 554.0
source: PFTS


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