The collapse of Russian securities noted on the London Stock Exchange

Tough sanctions imposed by the United States and the European Union against Russia collapsed the securities of Russian companies on the London Stock Exchange on February 28. The unfolding invasion of Russian forces on Ukrainian territory, accompanied by missile strikes on peaceful Ukrainian cities, led to coordinated and unanimous actions of all European countries and the United States to promptly develop tough sanctions against the Russian Federation and almost instantly impose them. The Russian Federation Central Bank was under sanctions, and several large commercial banks were excluded from the SWIFT international payment system. According to The MarketWatch, against this background, a substantial fall in the Russian Federation securities was recorded. It is reported that only in the first hour after the trading start, the papers of Sberbank collapsed by 75%. Lukoil’s losses amounted to 58%. The value of Rosneft Oil fell by 41%, which was also due to the exit of the British oil and gas company BP. Paper Gazprom Neft fell by 25%.

Source: xCritical.com