Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Russia's Credit Outlook Downgraded Over Ukraine Sanctions

Credit rating agency Standard & Poor's has downgraded Russia's credit rating outlook to negative, citing the potential economic fallout of Moscow's deteriorating relations with the West over the Russian annexation of Crimea.

Hours after U.S. President Barack Obama threatened to sanction key sectors of the Russian economy on Thursday, S&P announced that it had downgraded Russia's ranking to BBB, the second-lowest investment grade.

The BBB ranking implies Russia is considered to have "adequate capacity to meet financial commitments, but [is] more subject to adverse economic conditions."

Other countries with a BBB rating are Bahrain, Colombia and Italy.

"Heightened geopolitical risk and the prospect of U.S. and EU economic sanctions following Russia's incorporation of Crimea could reduce the flow of potential investment, trigger rising capital outflows, and further weaken Russia's already deteriorating economic performance," S&P said in a statement on its website.

On Thursday, U.S. President Barack Obama announced sanctions against 20 additional people and threatened possible penalties directly targeting the economy.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more