Tech and industrial sector companies may take a knee jerk hit on the latest sanction news and that may weigh on the markets overall. Europe is the main side to watch unless we hear similar moves from the US.
While the sanctions name oil production on the list we’re a long way away from the EU going after energy supplies and if they do it will be a very last resort act. The news shouldn’t have too much of an effect on oil prices as the sanctions are to hit the technology that Russia imports to help develop existing and new gas and oil sites, exploration etc, which they can’t manufacture themselves. Energy companies that do business with Russian energy producers may feel the heat also if projects are halted and delayed.
I’ve mentioned in the comments that we may see China step up and fill the gap as we know those guys can copy anything, and I’m sure there are ways and means of Russia using other sources.
Even so, you stock watchers have something to look out for.
European stocks have dropped in the minutes since the sanction details came out.
