Economics
Russia Stocks Are Trump Trade Gone Wrong as Sanctions Risk Grows
- Benchmark Micex Index has retreated 20 percent since January
- U.S. Senate signals it’s ready to extend penalties on Russia
This article is for subscribers only.
Russian stocks headed for their biggest slump in 17 months after the U.S. senate signaled it’s ready to expand sanctions against the Kremlin.
The country’s benchmark Micex Index dropped 3.3 percent by 3:13 p.m. in Moscow on Thursday, extending a decline since a record high reached in January to more than 20 percent. The Senate voted overwhelmingly to add the Russia measure to a bill sanctioning Iran amid a probe into the Kremlin’s meddling in last year’s presidential election. A 2.9 percent drop in Brent crude this week has also contributed to declines.