If you were expecting Russian stocks to fall Wednesday, you were wrong. Russia’s MICEX index was actually up a healthy 2.2%. On Tuesday, U.S. President Barack Obama announced a fresh round of economic sanctions on Russia for its ongoing involvement in destabilizing Ukraine. “Among the targets of the new measures include the Bank of Moscow, the fifth-largest bank in Russia; the Russian Agricultural Bank, the fourth-largest; and VTB Bank, the second-largest,” reported BI’s Brett Logiurato. “The sanctions prohibit U.S. citizens or companies from providing new financing to the three major Russian financial institutions, thereby cutting off their access to U.S. …read more
Source: Business Insider
