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Russian stocks hammered as US unveils sanctions
Washington decided at the weekend to take aim at several publicly-traded Russian companies in protest over the Moscow's actions for the first time, sending their shares crashing.
On Friday evening, the US Department of the Treasury announced measures against seven Russian oligarchs and 17 top government officials along with a dozen companies which the former either own or control, including the main state armaments exporter, Rosoboronexport.
According to the White House, the aim was to block any Russian oligarch from benefiting from Moscow's destabilising actions in countries ranging from Ukraine to Syria and from its interference in the 2016 US presidential race.
Also in the US administration's radar were Moscow's alleged attempts to influence European elections, such as in France, and its military intervention in Georgia.
Reacting to the news, as of 1230 BST on Monday afternoon, Moscow's benchmark RTS index was down by 9.32% at 1,121.24, alongside a 2.86% jump in the US dollar's value against the rouble to 59.7668.
Shares of London-listed outfits with exposure to Russia were also getting hammered, with stock in Evraz down by 14.12% to 386.90, alongside a 3.18% drop in Glencore and a 10.55% fall in shares of Polymetal.
-- More to follow --