Russia’s borrowing costs plunged to the lowest level in more than four years as investors took the lack of detail in a U.S. Treasury report as a sign that Washington isn’t ready for tougher sanctions.
The long-awaited report published late Monday essentially amounted to a list of Russia’s billionaires and officials with no indication of additional penalties. The Treasury gave no details about a separate review of the possible impact of sanctions on Russian sovereign bonds that has been casting a shadow on Russian debt markets since it was commissioned by President Donald Trump in August.
