Shares in Russia's Sistema drop 9 pct on U.S. sanctions fears

June 22, 2018 21:41
1 minute read.
Breaking news

Breaking news. (photo credit: JPOST STAFF)


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


MOSCOW - Shares in Russian business conglomerate Sistema fell 8.7 percent in Moscow trade on Friday, after two U.S. lawmakers called for an investigation into whether the group's owner should be subject to sanctions.

In a letter to U.S. Treasury Secretary Steven Mnuchin and Secretary of State Mike Pompeo, Congress members Ileana Ros-Lehtinen and Mark Walker called for "immediate action to determine whether Russian national Vladimir Yevtushenkov meets the criteria to be sanctioned."

Sistema holds the assets of Yevtushenkov, such as Russia's top mobile phone operator MTS, retailer Detsky Mir, microelectronics and technological firm RTI and pulp and paper manufacturer Segezha.

"According to publicly available information, Mr. Yevtushenkov's companies have been involved in large-scale investment and construction projects in the Crimea region of Ukraine that has been illegally occupied and annexed by the Russian Federation," said the letter, published on Ros-Lehtinen's website.

Reuters was not immediately able to verify the authenticity of the letter.

"We have no investments in Crimea or Sebastopol (the Russian Navy base in the region)," Sistema spokesman Sergei Kopytov said, adding the company had also not received any official queries on the allegations made in the letter.

On April 6, the U.S. Treasury Department imposed sanctions on Russian magnate Oleg Deripaska and companies in which he is a major shareholder, including the world's second-largest aluminum producer Rusal, in response to what it called "malign activities" by Russia.

The firms owned by billionaire Viktor Vekselberg were also hit with sanctions, as Washington responded to alleged Russian meddling in the 2016 U.S. presidential election.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
December 12, 2018
IDF: Moscow delegation briefed senior Russian officers on Northern Shield