Impact of economic sanctions imposed on Russia – Roya News English

Impact of economic sanctions imposed on Russia – Roya News English

Due to the sanctions imposed on Russia following its military intervention in Ukraine, Russia's economy will fall by 20 percent in the second quarter of 2022, according to JPMorgan’s estimates. This report mention the impact of the economic sanctions imposed on Russia as of March 2.

Rating agency Standard & Poor's (S&P) downgraded Russia's long-term foreign currency sovereign credit ratings to 'BB+/B' from 'BBB-/A-3' and local currency ratings to 'BBB-/A-3' from 'BBB/A-2', with Russia's rating is projected to continue to fall.

International rating agency Moody's has put Russia's long-term Baa3 rating on review with the possibility of further downgrading. Moody's also reviewed Russia's unsecured foreign and foreign currency rating ratings Baa3 and the short-term national currency rating P-3.