Rating agency S&P has cut Russian bonds to “junk” status in a move linked to EU sanctions, prompting angry rhetoric in Moscow.
The agency said in its note on Monday (26 January) Russian bonds are not worth buying because of low oil prices, the risk of more economic sanctions, and long-term Russian mismanagement.
It said the downgrade “reflects a lack of external financing due to the introduction of economic sanctions and the sharp decline in oil prices”.
“We anticipate tha...
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Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.