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World Trump sanctions cost Russian tycoons up to $16 billion in one day

13:46  10 april  2018
13:46  10 april  2018 Source:   nbcnews.com

Banks That Deal With Sanctions-Hit Russians to Face Ire of U.S.

  Banks That Deal With Sanctions-Hit Russians to Face Ire of U.S. British banks that deal with the Russian oligarchs and companies on a new American sanctions list will face “consequences,” according to a senior U.S. Treasury official. “We’re focused on countering the full range of Russian malign activity,” Sigal Mandelker, the Treasury’s under-secretary in charge of economic sanctions, said at a roundtable discussion at the U.S. embassy in London on Tuesday.

Russian oligarchs lost up to $ 16 billion on Monday after sanctions announced last week by President Donald Trump hit stocks and the ruble. U.S. issues new sanctions against Russian officials, tycoons . Apr.06.201801:30.

It was a black Monday for Russian oligarchs as up to $ 16 billion was wiped off the value of the country's wealthiest tycoons ' holdings in the wake of U.S.-imposed sanctions .

Image: Vladimir Putin in Moscow on Monday as sanctions took hold.Russian President Vladimir Putin © Provided by NBCU News Group, a division of NBCUniversal Media LLC Image: Vladimir Putin in Moscow on Monday as sanctions took hold.Russian President Vladimir Putin

LONDON — It was a black Monday for Russian oligarchs as up to $16 billion was wiped off the value of the country's wealthiest tycoons' holdings in the wake of U.S.-imposed sanctions.

The ruble fell to its lowest level against the dollar since late 2016, while shares in sanctioned aluminum producer Rusal, which is controlled by the billionaire Oleg Deripaska, plunged more than 50 percent on the Hong Kong stock exchange.

As Russian stocks tumbled, the Kremlin reportedly said it would step in to support affected companies.

Mnuchin Says Russian Oligarchs Sanctions Had Impact U.S. Wanted

  Mnuchin Says Russian Oligarchs Sanctions Had Impact U.S. Wanted U.S. sanctions on Russian oligarchs that sent the ruble tumbling and roiled metals markets had the effect the Trump administration wanted, Treasury Secretary Steven Mnuchin said. Mnuchin, speaking in an interview broadcast Thursday on Fox Business, said that the sanctions against tycoons close to the Russian government had the “necessary impact.”He didn’t rule out additional financial penalties, saying the administration “is not afraid to use these tools -- we will use these tools -- but we’re not going to broadcast to the world our exact thinking.

Politics 66 Days Feedproxy.google.com. Trump 's Neocon Folly: Goodbye Nuke Deal, Hello Global Debt Crisis. Then he ordered the Bank of Russia to assist payment of more than billion in

"But there have been worse days when I've lost $ 1 billion in a day ." goo.gl/UXSR59. news. If Trump doesn’t veto sanctions bill, ‘he’s given up on his presidency’ - analystRT America.

The latest sanctions were announced by President Donald Trump on Friday. They target leading figures close to President Vladimir Putin in an aggressive response to alleged Russian meddling in the 2016 U.S. election.

Bloomberg reported that all but one of the 27 Russian tycoons on its Bloomberg Billionaires Index lost money on Monday. The biggest loser, it said, was nickel miner Vladimir Potanin, whose wealth fell by $2.25 billion.

In total, the net worth of Russia's wealthiest people fell by $16 billion, according to Bloomberg. Forbes Russia said the value of tycoons on its own index fell by $12 billion.

Shares in Sberbank, one of Russia's biggest banks and a barometer of its economic health, fell 17.3 percent.

However, some Russian business leaders remained upbeat. "I lost $250 million in one day," Oleg Tinkov, founder and chair of the board of directors of Tinkoff Bank, told a business conference in Moscow on Tuesday. "But there have been worse days when I've lost $1 billion in a day. So, actually, it was a very positive day."

Russia: Our response to U.S. sanctions will be precise and painful

  Russia: Our response to U.S. sanctions will be precise and painful The speaker of the Russian upper house of parliament said Moscow's response will be targeted and painful, Russian news agencies reported. The United States this month added several Russian firms and officials to a sanctions blacklist in response to what it said were the Kremlin's "malign activities." Moscow says those sanctions are unlawful and has warned that it will retaliate."No one should be under any illusions," Matvienko, who is closely aligned with the Kremlin, was quoted as saying by the Interfax news agency.

In overall, the online value of Russia ’s wealthiest other people fell through $ 16 billion , consistent with Bloomberg. Forbes Russia mentioned the price of tycoons Russian President Vladimir Putin Mikhail Klimentyev / AFP – Getty Pictures. Even the ones firms now not below sanctions took a monetary hit.

Trump sanctions cost Russian tycoons up to $ 16 billion in one day . NBC News. "I lost 0 million in one day ," one bank executive said. "But there have been worse days when I've lost billion in a day."

Putin's spokesman Dmitry Peskov said the Kremlin would back efforts to mitigate the effect of the sanctions package, which he called "egregious in its lawlessness."

"Time is needed for analysis to understand the size of the real damage and to work out steps to correct the situation, for the maximum possible correction," he said Monday.

Prime Minister Dmitry Medvedev ordered officials to draw up measures to support sanctioned companies in the energy, metals and arms sectors, Russian news agencies reported.

Even those companies not under sanctions took a financial hit. Reuters reported that steel miner Evraz was the biggest faller on London's FTSE 100 on Monday, down 8 percent.

Senior U.S. administration officials said that the sanctions were not aimed to punish Moscow for any particular event, but are instead a broader measure aimed at the "totality of the Russian government's ongoing and increasingly malign activities in the world."

However, some experts have warned that trying to squeeze oligarchs is unlikely to bring about a significant change in Putin's policies.

Alastair Jamieson reported from London, and Elena Holodny reported from Moscow.

Trump adviser denies confusion over Russia sanctions .
<p>White House economic adviser Larry Kudlow said on Tuesday the United States had imposed a set of sanctions on Russia and was considering other measures for the future.</p>His comments came after U.S. ambassador to the United Nations Nikki Haley said over the weekend that new U.S. sanctions would be forthcoming, only to have President Donald Trump delay further action on Monday, according to a senior administration official.

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