MSCI Keeps Sberbank, VTB in Russia Index Amid Sanctions - Bloomberg

MSCI Keeps Sberbank, VTB in Russia Index Amid Sanctions - Bloomberg:



"MSCI Inc. has maintained OAO Sberbank and VTB Group in its Russia gauge after the U.S. and European Union imposed sanctions blocking the purchase of new bonds or stocks issued by the lenders.



The index provider, whose gauges are tracked by investors managing about $9 trillion, said in a statement that it consulted with investors and determined that the restrictions on the transactions “are not perceived as an immediate concern.”



The U.S. imposed sanctions on Russia’s state banks, including VTB, on July 29. The measures prohibit U.S. persons from transacting with, providing financing for or otherwise dealing in new debt of longer than 90 days maturity or new equity with the lenders. The European Union on July 31 blocked local investors from buying new stock and bonds issued by VTB and Sberbank, Russia’s biggest bank."



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