Shares of Rosneft and Lukoil companies led the decline of "blue chips" on the Moscow Exchange after they came under blocking US sanctions. This was reported by The Moscow Times, informs UNN.
Details
It is noted that over Thursday and Friday, the total capitalization of Rosneft and Lukoil decreased by 424 billion rubles, or $5.2 billion.
Rosneft's papers ... are trading at 389.85 rubles per share - 3% lower than before the introduction of sanctions. ... As a result, the company's market value fell by 127 billion rubles, or $1.56 billion. Lukoil's shares fell by 7.2% in two days, which cut 297 billion rubles, or $3.66 billion, from the company's capitalization.
The authors also point out that the main owner of Lukoil, Russia's richest man Vagit Alekperov, who owns a 28% stake, became poorer by 83 billion rubles, or just over $1 billion, in two days.
At the same time, according to Alor Broker analysts, much will now depend on whether the US will apply secondary sanctions against banks that service oil flows, because usually oil on the world market is sold not by the producers themselves, but by oil traders, that is, formally, foreign banks may not make payments.
Recall
The United States Department of the Treasury officially imposed sanctions against leading Russian oil companies Rosneft, Lukoil, and their subsidiaries.
Russian dictator Vladimir Putin stated that the new US sanctions are serious, but will not affect the Russian economy. He called them an attempt to pressure and an unfriendly act that does not strengthen Russian-American relations.
Donald Trump reacted to these words. He ironically noted that he was glad to hear about the dictator's "confidence," but noted that he would prefer to see how Russia copes with them.