Shares of Russian companies collapsed amid new sanctions

Shares of En + Group on the Moscow Stock Exchange fell by 16%, VTB shares - by 10%. Rusal shares on the Hong Kong stock exchange have lost 50%.
Shares of En + Group on the Moscow stock exchange lost 16% since the beginning of trading against the backdrop of the inclusion of its owner Oleg Deripaska in the sanction list of the US Treasury. The shares of Rusal, which is also controlled by Mr. Deripaska, have lost 23% since the start of trading at the Moscow stock exchange and have been transferred to the discrete auction mode. GAZ Group has lost 15% at the moment.

On the London Stock Exchange, trading in En + securities was suspended after the value of the depositary receipts for the company's shares fell.

In addition, after the introduction of new US sanctions, the board of directors of En + Group left foreign independent director Dominic Fres, who is the director of Natixis Bank for Global Energy and Commodities. Fres was appointed to the board of directors of En + Group in December 2017. This happened immediately after the IPO of the company on the London Stock Exchange.

Rusal shares on the Hong Kong Stock Exchange have lost 50%. Earlier, Rusal warned that sanctions could lead to technical defaults on a number of loan commitments, and also have a negative impact on business development. At the same time, the company noted that they intend to fulfill all the obligations that exist at the moment.

VTB shares at the Moscow stock exchange fell by 10% after the inclusion of Andrei Kostin, who holds the post of president-chairman of the board of the bank, in the black list of the US Treasury.

Andrei Costin himself used to call his inclusion in the list "trifles". "I am a Russian person, I live in Russia and will live in Russia," Mr. Kostin said. "And so, well, some inconveniences will be, but these are trifles, the opportunity not to go to the IMF session or some other ... we will survive it. "

VTB is one of the largest banks in Russia, according to current quotes, its capitalization is estimated at 666 billion rubles. According to the February report, the bank's net profit for 2017 was 104 billion rubles, which is almost 1.5 times more than a year earlier.