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Anti-Russian sanctions

Russian banker Oleg Tinkov says he lost $250 mln in one day due to US sanctions

On April 6, the US authorities imposed sanctions against a number of Russian officials, businessmen and companies

© Sergey Konkov/TASS

MOSCOW, April 10. /TASS/. Russian banker Oleg Tinkov said he had lost $250 mln in one day due to the latest US sanctions, despite the fact that his company was not put on the the sanctions list.

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US sanctions spark ‘Black Monday’ on Russian stock market

Speaking at the forum of the Moscow Stock Exchange, he said:

"The Russian business has strong nerves, we feel fine. Yesterday I lost $250 million, and there were worse days, I remember I lost $1 bln a day."

The businessman stressed that being on the Russian stock market is still like "riding on a volcano."

"Unfortunately, our investors do not have such strong nerves as the Russian business, the company functions, fundamentally everything works, the bank generates revenues and profits," he said.

Tinkoff Bank’s Global Depositary Receipts (GDR) are traded on the London Stock Exchange.

On April 6, the US authorities announced the imposition of sanctions against a number of Russian officials, businessmen and companies.

The Russian businessmen who were placed on the new US restrictions list include Gazprom CEO Alexei Miller, VTB head Andrei Kostin, owner of Renova Viktor Vekselberg, Surgutneftegaz CEO Vladimir Bogdanov, Sibur board member Kirill Shamalov, and businessmen Igor Rotenberg, Oleg Deripaska and Suleiman Kerimov.

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Sanctions vs. Russia

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