FSN: Russia Braces for Crippling US Sanctions as Ukraine Turns Deadly

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

US President Barack Obama has accused Russia of violating both the spirit and the letter of the Geneva deal to end the crisis in Ukraine

by Ambrose Evans-Pritchard
Telegraph.co.uk

Deadly clashes in eastern Ukraine and warnings of broader US sanctions against Russia have sent tremors through Moscow’s financial markets and forced the country to cancel a sovereign debt auction yet again.

Russia’s RTS equities index fell to a one-month low, with Gazprom and Sberbank both down 3.5pc in volatile trading. Russia’s treasury pulled a 20bn rouble (£330m) bond auction intended to test the waters, saying there were no buyers at an acceptable cost. Yields on 10-year Russian bonds have jumped to 9.17pc.

Russian president Vladimir Putin admitted for the first time that US sanctions imposed after the annexation of Crimea are “causing damage” to Russia’s economy – already in or near recession – but insisted that the crisis had not yet become critical.

Continue Reading at Telegraph.co.uk…