Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Norways Sovereign Fund Reported 10 Percent Loss on Russian Securities Over Ukraine Crisis
3.05.2014 13:33
Norways Sovereign Fund Reported 10 Percent Loss on Russian Securities Over Ukraine Crisis
Photo Credit: http://www.etftrends.com

Norway’s sovereign fund lost almost 10 percent on Russian government bonds in 1Q 2014 but it’s not eager to sell them off.

      According to Vedomosti, Government Pension Fund Global (GPFG), the world’s biggest sovereign wealth fund reported a 9.7 percent loss in the first quarter this year due to depreciation of Russian securities amid a deteriorating geopolitical situation.

      GPFG was established in 1990 as a fiscal policy tool to underpin long-term considerations in the phasing in of petroleum revenues into the Norwegian economy. Long-term, sound management of the Fund helps to ensure that both present and future generations can benefit from Norway’s petroleum wealth.

      Russia has sparked a wave of criticism after it incorporated Crimea into its territory following a referendum on the peninsula with a large ethnic Russian population.

      The US and the EU imposed a raft of sanctions on Russian officials and individuals with close ties to the Kremlin. The US also put space and military cooperation on hold, followed by some of its NATO allies, including the UK.

      The US sanctions have encountered a vigorous response from the Russian Foreign Ministry which came up with a black list of its own.

       




Author: Mikhail Vesely

Tags: Crimea Ukraine crisis    

Next Previous


You might also find interesting:

Russia Ranked 27th in the Annual Bloomberg Innovation Index
28.01.2019
Registration of Companies in Russia will be Simplified
30.07.2018
The Castro 10 (C10) Vessel has Started Preparatory Work on Laying Gas Pipes for the Nord Stream-2
13.08.2018
Russian Imports of Dairy Products May Reach a Minimum Level Over the Past 15 Years
28.01.2019
The Top Selling Cars in Russia
27.09.2018







Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
Ferapontovo  Russian tourism  Paleontology  Duduk Festival  St. Petersburg  Jeanne d'Arc  UNESCO World Heritage List  Russian Composers  Photography Festivals  Ulyanovsk airport  Russian laws  Street Art  Russian visa  Boris Eifman Ballet Theater  Archeological Finds  the Crimea  Russian sport  Russian Literature  Book Tickets for Ballet  Arkaim  Pushkin Museum of Fine Arts  Christmas  Irkutsk  Penza  Ivan Vasiliev  Festivals in Moscow  Russian Cinema  Alley Of Russia   Russian airlines  Museums of Kaliningrad  Exhibitions in Moscow  Vladimir the Great  inventions  boat cruise  Surgut  Festivals in Saint Petersburg  Georgy Flerov  Russian Actresses  Books  city guide  Moscow Museum of Modern Art  Mercedes-Benz Fashion Week Russia  Russian banks  shopping in St. Petersburg  Sylvester Shchedrin  http://ria.ru/culture/20121225/916097637.html#ixzz2GFx2S1GG  Russian history  Russian scientists  Moscow  Russian business 


Travel Blogs
Top Traveling Sites