The strict limitations will be introduced in a month, on November 28, and cut the length of maturity of bonds issued by those companies that US individuals and institutions are allowed to trade.
“For Russian banks and other finance houses listed for sanctions, only debt of 14 days or less issued after November 28 can be traded. Previously the allowed maturity was 30 days. For listed oil and gas firms, the maturity of permitted new debt was cut to 60 days from 90 days,” the media writes.
The sanctions affect Russian banks like Sberbank, Vnesheconombank, Eximbank of Russia and VTB Bank, and energy giants including Gazprom, Lukoil, and Transneft.
The sanctions against Russia were first introduced back in 2014 by the US and other G7 countries, as well as some of the EU countries, due to the beginning of Russian aggression against Ukraine, first in Crimea, then in Donbas. Some of the sanctions affect individuals or entities, while others – whole sectors of the economy.