MNI BRIEF: Powell Says US Is 'Far' From Fiscal Dominance

MNI BRIEF: US Firms Wary of Tariff-Related Inflation - Fed

MNI: US NOV FINAL SRVCS PMI 56.1 (FLASH 57.0); OCT 55.0

MNI NBP WATCH: Rates Held, Outlook Unchanged

MNI BRIEF: Barkin Aims For 'Somewhat Restrictive' Fed Rates

MNI China Daily Summary: Wednesday, Dec 4

EZ/UK Bond Supply Calendar: Spain, France Auction, UK Tender

US EIA: CRUDE OIL STOCKS EX SPR -5.07M TO 423.4M NOV 29 WK

MNI: US ISM NOV SERVICES COMPOSITE INDEX 52.1

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EU Says Cost of Sanctions on Russia Will Have Lasting Effects

RUSSIA
  • The EU’s sanctions against Russia over its invasion of Ukraine will build over time and will have a growing long-term impact on Moscow’s economy, Bloomberg report. “These effects will further intensify over time, as the measures have a structural, long-term impact on Russia’s budget, financial markets, foreign investment and its industrial and technological base,” according to an impact assessment prepared by the European Commission seen by Bloomberg. The sanctions have “significantly degraded Russia’s industrial and technological capacity,” according to the assessment.
  • The Russian power generation sector will have to pay an aggregate RUB25bn ($275mn) in the so-called “windfall tax”, Kommersant calculated. Last month the Russian Ministry of Justice and the cabinet approved the draft law proposed by the Ministry of Finance "On tax on excess profits of previous years", or the so-called one-time “voluntary” windfall tax on the real sector worth a total RUB300bn ($4bn).
  • The central bank will report reserve assets for June at 1400BST/1600 local time. There are no other major economic releases or speaker events scheduled for today.
Political Risk BulletEM BulletHomepageBulletPolitical RiskEmerging Market News
Political Risk BulletEM BulletHomepageBulletPolitical RiskEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.