Ann: CEO Presentation , page-7

as Bloomberg notes, the Russian Ruble is now notably stronger than before the sanctions and for those who ignored US sanctions and bought Russian stocks - the MSCI Russia Index has gained $90 billion since Jay Carney said "sell" as the sanctions hit.



As Bloomberg notes, investors who have ignored international sanctions against Russia are being rewarded.

The chart below shows Russian Ruble has strengthened notably since the US sanctions were unveiled...

And stocks are winning...

MSCI Russia has gained 22 percent, adding about $90 billion in market value since March 17, when the U.S. banned President Vladimir Putin’s business allies in response to his annexation of Crimea. MSCI’s emerging-market gauge jumped 10 percent during the period, while the Standard & Poor’s 500 Index rose 2.9 percent.

...

“There was a significant amount of fear in the market, but it is clear that the actual sanctions were nothing very dramatic,” Ian Hague, founding partner of New York-based Firebird Management LLC, which manages $1.1 billion of assets.