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Deutsche: Broad Sovereign Debt Sanctions Unlikely

RUSSIA

Deutsche on OFZ Sanctions

  • broad sovereign debt sanctions are unlikely and if any expansion of the sanctions does takes place, it would likely affect hard currency, rather than local debt
  • U.S. and U.K. are mulling sanctions that may possibly target debt have not "visibly changed the direction on the sanction
  • "continued uncertainty" may prevent the ruble strengthening, but that stronger oil prices after OPEC+ meeting are supportive
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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