Market News | Press review: sanctions, banks, Sberbank, Aeroflot, Rosneft — 02/28/22

Norway's Equinor stops investing in Russia and pulls out of joint ventures

Norwegianoil and gas groupEquinorannounced the cessation of new investments in Russia and the withdrawal from joint ventures. The company is a partner "Rosneftfor Sevkomneftegaz and Angaraneft. On the eve of BP announced the termination of cooperation with Rosneft.

https://www.kommersant.ru/doc/5237551

 

The ban on flights of Russian airlines to the EU came into force

The European Union has banned the use of its airspaceRussian airlines. Aircraft from Russia cannot land, take off or fly over EU territory.

https://www.kommersant.ru/doc/5237523

 

Military operations in Ukraine break the logistics of goods in the Russian Federation

The movement of containers by sea, one of the key ways to deliver general cargo, is beginning to suffer from military conflict. Rowcontainer lineshas already suspended bookings for Russia, someSo far limited to the ports of Ukraine. Supply chains have also experienced disruptions caused by captains' decisions not to risk entering even Russia's unlocked ports on the Azov and Black Seas. Market participants expect an increase in the number of companies refusing to send ships to Russian southern ports.

https://www.kommersant.ru/doc/5237447

 

Oil refineries are left without spare parts. The EU disrupts the modernization of factories in the Russian Federation

Russianoil refining industrydue to the start of military operations in Ukrainefaced large-scale technology sanctions from the EU. According to experts, this will at least lead to a shift in new modernization projects and may bring already built facilities to the brink of shutdown due to maintenance problems. Oil and gas chemistry may be the most vulnerable, but it is not yet clear to what extent the sanctions apply to this industry.

https://www.kommersant.ru/doc/5237432

 

ECB predicts bankruptcy of Sberbank Europe

European "daughter"Sberbankis on the verge of bankruptcy, saidEuropean Central Bank. It is alleged that Sberbank Europe faced a significant outflow of funds “as a result of the reputational impact from geopolitical tensions.”

https://www.kommersant.ru/doc/5237522

 

Stock exchanges have closed foreign stocks. Why Russian sites limit trading time

Reduction of time in the mode of main trading in foreign shares onRussian exchangesmay be associated not only with highvolatility, but also with a number of banks falling under sanctions. However, market participants admit that trading may return to normal. Kommersant's sources clarify that opening trading in the morning and afternoon would bring additional income to market makers, but would result in losses for investors.

https://www.kommersant.ru/doc/5237465

 

Private brokers record influx of new clients

At the end of last week, private brokerage companies observed activeinflux of new customers- both private and institutional.This happened against the backdrop of the inclusion of the largest Russian financial organizations under US and EU restrictions. Kommersant’s sources close to the sanctioned banks admit that now “all efforts are focused on retaining clients.”

https://www.kommersant.ru/doc/5237461

 

Cryptocurrencies have entered the conflict zone. Russian investors faced account blocking

Russiancrypto investorsbegan to face restrictions on access toaccounts on exchanges - for now on small platforms. Crypto exchanges explain their actions as a military conflict, promising to review the measures introduced if it is resolved. However, experts interviewed by Kommersant fear that it will no longer be possible to return the frozen funds. Analysts admit that sanctions may affect trading platforms.

https://www.kommersant.ru/doc/5237451