Currency converter
All news
News Search Topics
Use filter
You can filter your feed,
by choosing only interesting

Russia says EU sanctions to have limited impact on its enterprises

September 12, 2014, 17:34 UTC+3 MOSCOW

The stocks of leading oil companies did not react to the EU sanctions

1 pages in this article
© AP Photo/Alexander Zemlianichenko

MOSCOW, September 12. /ITAR-TASS/. New EU sanctions would have a limited impact on Russia’s state-controlled companies and enterprises, analysts said on Friday.

Sberbank KIB analysts said that the sanctions would hardly affect major Russian banks with state capital as they have already been unable to borrow in the West since March when the geopolitical situation began to deteriorate.

The stocks of leading oil companies did not react to the EU sanctions. Rosneft shares grew by 1.4%, Gazprom Neft’s stocks rose by 1.3%, and Transneft’s securities gained 1.6%

Sberbank’s ordinary shares went a notch up by 0.54% and those of VTB by 0.4%

Defense industry is unlikely to be affected by the sanctions as its enterprises can borrow on the domestic market.

Rostec officials said the EU sanctions would have no impact on its defense enterprises’ current operations as they do not borrow abroad at all.

The United Aircraft Corporation also said that it met its capital needs by borrowing on the domestic market, while foreign borrowing accounted for less than 1% of its loan portfolio.

Show more
In other media
Partner News