A sell-off in Russian markets triggered by the latest round of US sanctions may drive up inflation and cap an economic recovery this year, but the overall impact is expected to be limited for now.Investors’ initial reaction to the sanctions announced on April 6, targeting several major companies and individuals thought to have ties to President Vladimir Putin, was to dump Russian assets.Citi said after a round of calls with investors that they were concerned the sanctions and market slump would “lead to deterioration in overall growth, the fiscal position, forex reserves, and one investor felt this could move inflation …read more
Source: Gulf times
