Russia Sees Euro, Dollar Investments at Risk in Ukraine Backlash - Bloomberg:
"Sanctions over Ukraine may threaten Russia’s investments in assets denominated in euros and U.S. dollars, Economy Minister Alexei Ulyukayev said, urging the use of the nation’s wealth funds for domestic projects.
“We should now very attentively study the risks of investing into dollar and euro securities, given the geopolitical situation we have right now,” Ulyukayev told lawmakers in Moscow today when questioned on whether returns on foreign securities are too low.
U.S. and European sanctions triggered by President Vladimir Putin’s annexation of Crimea from Ukraine last month stoked capital outflows and raised the specter of a recession as economic growth stumbled to a four-year low. With tensions escalating in the worst standoff since the Cold War, the U.S. and its European allies are threatening a new round of penalties against Russian interests if the crisis continues."
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