The Impact of Anti-Russian Sanctions on the Russian Stock Market

Student: Knyazeva Valeriya

Educational Programme: Economics (Bachelor)

Year of Graduation: 2019

Abstract The paper focuses on the impact of the sanctions on the daily returns of the MICEX stock index, bond indices (RGBITR, RUCBITR, RUМBITR), the ruble exchange rate and the share prices of companies which are under sanctions. The goal of this research is to determine the influence of the sanctions on the stocks, bonds and currency markets. In order to evaluate abnormal returns in periods when sanctions were imposed there was used event-study method with 10 days window. The results of this research are that imposed sanctions negatively influenced all three markets; the stock market suffered more than the bond market and the ruble exchange rate, however, nor every event was significant for particular sample of companies. Keywords: Sanctions, Stock market, Russia, share return

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