China Shunning Russian Coal With Banks Nervous Over Sanctions

China Shunning Russian Coal With Banks Nervous Over Sanctions

Reuters

Russia to temporarily ban foreigners from selling assets

MOSCOW (Reuters) -Russia will temporarily stop foreign investors from selling Russian assets to ensure they take a considered decision, not one driven by political pressure, the prime minister said on Tuesday, as Moscow responds to intensifying Western sanctions. Russia’s huge sovereign wealth fund will also be pressed into action, spending up to 1 trillion roubles ($10.3 billion) to buy shares in Russian companies, a government decree showed, confirming an earlier report by Reuters. “In the current sanction situation foreign entrepreneurs are forced to be guided, not by economic factors, but to make decisions under political pressure,” Prime Minister Mikhail Mishustin told a governmental meeting.

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