Skip to content
Subscriber Only

Russian Markets Unruffled as U.S. House Raises Sanctions Risk

  • Provision still requires Senate approval before becoming law
  • Traders more focused on Fed as bonds pare drop, ruble climbs
Representative Brad Sherman

Representative Brad Sherman

Photographer: Andrew Harrer/Bloomberg
Updated on

Russian investors shrugged off U.S. House backing for a provision that could extend bond-trading curbs to the secondary market as punishment for Moscow’s alleged interference in U.S. elections. 

Currently, Americans are banned from buying new Russian sovereign debt. The latest measure, written by Representative Brad Sherman, a California Democrat, and adopted by voice vote, would extend those restrictions to trading newly issued government bonds in the secondary markets.