Putin Sanctions at Economic Tipping Point as Markets Fray

September 19, 2014 7:56 AM

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Putin Sanctions at Economic Tipping Point as Markets Fray

Russia’s ruble, bonds and stocks rallied on March 18, a day after the European Union announced sanctions against the nation as President Vladimir Putin prepared to annex Ukraine’s Crimean peninsula.

Fast-forward six months and escalating EU and U.S. penalties and the ruble is at a record low, Russian banks pay the most on record to gain dollar funding and government bonds have suffered the biggest losses among emerging markets, according to data compiled by Bloomberg. The Micex Index of stocks ...

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