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Legal Minefield of Russia Sanctions Worries Bond Investors

Confusion over the legal implications of sanctions on Russia and worries about further, harsher restrictions from the West are making investors cautious about owning bonds issued by Russian companies. Two rounds of U.S. sanctions on Russian individuals and companies, in March and April, have not directly affected any companies which issue publicly traded debt. EU sanctions are regarded as even lighter. Sanctions imposed so far on individuals such as Igor Sechin, chief...

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