Economics
Behind Brave Face on Sanctions, Russia Is Already Adjusting
Sen. Crapo Says Expanded Russian Sanctions Go Beyond Hack
This article is for subscribers only.
They are only discussed. They may not even be implemented. But the new sanctions under consideration in the U.S. Congress have already become a factor the Bank of Russia can’t ignore.
While Governor Elvira Nabiullina dismissed sanctions as having little impact on Russia, the looming threat of wider measures was probably among the reasons why policy makers opted for a smaller cut in interest rates last week, according to Morgan Stanley and Raiffeisenbank. Separately, the U.S. Treasury on Tuesday broadened its list of individuals and companies penalized for the annexation of Ukraine’s Crimea peninsula in March 2014.