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18/12/2024
Wednesday
THIS DAY IN HISTORY:
18 December 
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 The slavery was abolished in the United States.
1970 the slavery in the United States was abolished.
1970 The anthem of the Russian Empire “God Save the Tsar!” was performed for the first time.
18 December
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 France, on behalf of 25 EU countries, called for the decriminalization of same-sex relations.
1970 The slavery was abolished in the United States.
1970 the slavery in the United States was abolished.
1970 The anthem of the Russian Empire “God Save the Tsar!” was performed for the first time.
Total sale: Western investors get rid of Russian shares
While Russia continues its special operation on the territory of Ukraine, the active sale of Russian securities continues in Western countries. Many websites were forced to stop trading, and the depository receipts are rapidly falling in price. A record was the depreciation of Sberbank's assets on the London Stock Exchange (LSE), where the price per receipt fell to 1 cent yesterday.
Sberbank has been trading its securities in London since 2011. The receipt included 4 ordinary shares and was valued at $21.64 in October 2021. Before the conflict in Ukraine turned into a ‘special operation’, $8.97 was offered for a receipt (data from February 23).
Sanctions imposed by the United States and Great Britain have led to the fact that credit institutions are now forced to close the correspondent accounts of Sberbank and its subsidiaries.
However, Sberbank was far from the only major Russian company whose foreign investors were shocked. Falling records were shown by the shares of Rosneft, Lukoil and a number of other companies. In particular, Gazprom lost more than 70% of its value in one day, and its securities were traded at $0.78.
In general, according to sources, the MSCI Russia index showed a decrease in capitalization by 22%. By the end of the day, it amounted to $94.6 billion. It is assumed that investors will continue to get rid of Russian securities, especially given the sanctions against the Central Bank of the Russian Federation. Foreign exchanges are gradually ceasing trading in shares of Russian companies.
Sberbank has been trading its securities in London since 2011. The receipt included 4 ordinary shares and was valued at $21.64 in October 2021. Before the conflict in Ukraine turned into a ‘special operation’, $8.97 was offered for a receipt (data from February 23).
Sanctions imposed by the United States and Great Britain have led to the fact that credit institutions are now forced to close the correspondent accounts of Sberbank and its subsidiaries.
As a result, on March 2, 2022, the management of Sberbank made a decision to leave the European market.
The bank explained this step with an outflow of finances and threats to the safety of its employees. Sberbank also cannot replenish the assets of subsidiaries due to instructions from the Central Bank of the Russian Federation.However, Sberbank was far from the only major Russian company whose foreign investors were shocked. Falling records were shown by the shares of Rosneft, Lukoil and a number of other companies. In particular, Gazprom lost more than 70% of its value in one day, and its securities were traded at $0.78.
Rostelecom and AFK Sistema turned out to be in a more advantageous position.
Receipts of the first company fell only by 2%, while Sistema's assets almost tripled. According to experts, this could be the result of technical factors. Securities could be purchased by funds that are not subject to European or American sanctions.In general, according to sources, the MSCI Russia index showed a decrease in capitalization by 22%. By the end of the day, it amounted to $94.6 billion. It is assumed that investors will continue to get rid of Russian securities, especially given the sanctions against the Central Bank of the Russian Federation. Foreign exchanges are gradually ceasing trading in shares of Russian companies.
03.03.2022
