14/9/2014: Update: Sanctions Round 4: Russian Banks, Stocks & RUB

Jon Blogosphere, Economy, Geopolitics, Market Commentary

Updating my chart on Russian stock market performance:
A very interesting set of statements from Sberbank Chairman, German Gref on the impact of sanctions on Russia’s largest bank. Two source articles for this are: quotes from the above:
External funding markets are already de facto closed [for Sberbank] – including markets for debt under 90 days (recall, debt over 90 days is directly restricted under the sanctions). De facto, per Gref, sanctions are much tighter than de jure. Hard currency liquidity position of the banks is severely disrupted.

This post was published at True Economics on Sunday, September 14, 2014.