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Russian stocks seen sagging as EU readies new sanctions

MOSCOW, Apr 18 (PRIME) -- The Russian stock market will likely decrease on Monday on the news of the E.U. preparation a sixth package of sanctions, analysts said.

"The sanctions rhetoric increased last weekend. Head of the European Commission Ursula von der Leyen announced development of the sixth package of anti-Russia sanctions. They can affect the banking sector, where attention is focused on Sberbank. The European Commission is also elaborating smart mechanisms that will be targeted against Russian oil," Alor Broker analyst Alexei Antonov said.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said that the market would take into account reassessment of the possibility of the U.S. credit policy toughening. The U.S. Federal Reserve System may raise the key rate significantly at the next meetings.

Zvarich also said that the coronavirus pandemic in China continues to be a factor of uncertainty.

The effect of new sanctions against Russia on the banking sector and the oil price, if imports from Russia are restricted, are unclear, but the news undermines attractiveness of two biggest lenders, Sberbank and VTB, Antonov said.

The gold prices are close to U.S. $2,000 per ounce, which is why Petropavlovsk may recover, although its financial position is unclear, Antonov said.

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18.04.2022 09:44
 
 
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