The war in Ukraine has made Russian assets toxic
CNN
In less than a week, Russian assets have become practically untouchable for Western investors, who see no reason to expose themselves to a pariah economy that could be crushed by sanctions. Financial transactions also look increasingly difficult to execute and risk running afoul of regulators.
"It's very difficult to see any scenario right now where buying Russian assets makes sense," David Coombs, head of multi-asset investments at Rathbones, told me. All bets, he added, would be a "pure gamble."
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