Since Russia’s March takeover of Crimea, critics have accused Obama and other Western leaders of ineffectual policy. But the sanctions hit a bull’s-eye.
Although Russia’s state-owned Gazprom recently signed an agreement to supply China with natural gas, Beijing’s pricing and other demands could scuttle the deal.
Investors flocked to state-owned Sberbank of Russia’s recent $5.3 billion secondary share sale. But it remains to be seen whether this success will kick-start the country’s long-awaited second wave of privatization.
