US toughens sanctions against Russian companies

Baku. 29 November. REPORT.AZ/ The conditions for accessing the debt market for sanctioned Russian companies have been further toughened yesterday. 

Report informs, the US Department of Treasury stated.

It was noted that loan terms for sanctioned Russian banks reduced from 30 days to 14 days, also Russian oil-gas companies from 90 days to 60 days

According to US Department of Treasury, new rules will apply to the loans borrowed from November 28.

Deputy chairman of the Bank of Russia Kseniya Yudayeva commented on toughening the sanctions, adding that impact of US sanctions on the Russia’s state debt will be short-term.

She also added that the decision of US Department of Treasury to impose restriction on buying Russian treasury bonds by February 2018, may create short-lived period of volatility in the financial market, but in long term the situation would always stabilize. But participants of market are not agreed with Yudayeva’s optimistic approach. They believe that the restrictions on Russian government bonds will have tougher consequences for financial market.