US sanctions will not affect Russia’s sovereign rating, said S&P

© AP Photo / Henny Ray AbramsЗдание headquarters of the rating Agency Standard & Poors in new York, USA. Archival photoUS sanctions will not affect Russia’s sovereign rating, said S&P© AP Photo / Henny Ray Abrams

New US sanctions will have no immediate impact on the sovereign rating of Russia, is spoken in the message of international rating Agency S&P.

Currently, the Agency keeps the rating at ‘BB+’ with a positive Outlook, which corresponds to the lowest rung of the speculative category.

The Agency notes that at the moment of Russia’s ratings remain supported by good fiscal performance, however, is constrained by the rating of the Russian economy, which retains a dependence on profits from the export of oil and gas sector, as well as a number of institutional and regulatory factors.

«Our forecast for Russia is not changed, and we expect that the economy will return to growth in 2017 due to the increase in the price of oil and gas, real wage growth and easing of monetary policy,» noted the Agency.

S&P added that the previous forecasts of experts of Agency have taken into account the factor of preservation of U.S. sanctions and the EU, and at the moment it is not clear to what extent the new restrictions will affect medium-term growth prospects of the economy, since much will depend on how will be fulfilled the law.

The US President Donald trump on Wednesday signed a law on sanctions. For the Russian economy as it expands the number of sectoral sanctions. In particular, reducing the maximum term of financing of Russian banks under US sanctions, up to 14 days, oil and gas companies, up to 60 days (now 30 days and 90 days, respectively).

US sanctions will not affect Russia’s sovereign rating, said S&P© RIA Novosti, Infografiken sanctions against Russia and retaliatory measures