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:

A Joint Venture Fund that Will Invest in Projects in the Sphere of Medical and Pharmaceutical Industry will be Created
28.06.2019
The Share of Non-cash Payment in Russia Reached 50%
07.02.2019
Russia Can Tighten Control over the Activities of Foreign Payment Services
18.12.2018
The Share of SMEs in the Russian Economy Makes 21.9%
07.02.2019
New Fines for Companies Hiring Foreigners to Work in Russia were Introduced
02.08.2018







Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
Pobeda  Perm shopping malls  New Films  Moscow Conservatory  Krasnaya Sopka  travel to Russia  Federal Service for Financial Markets  Moscow  parking zone  environment  Saint Petersburg   Kaluga Region  Mercedes-Benz Fashion Week Russia  Russian tourism  EU sanctions  Zaryadye Park  Scientific Exhibitions  tourism  Saveli Sorin  Russian business  Moscow hotels  Golden Mask  Nizhny Novgorod Region  Rodion Shchedrin  St. Petersburg  Rebecca Horn  New Year  Festival of Festivals  Russian Cinema  children  Russian parliament  Festivals in Moscow  Pechory  invest  Sokolniki  Fires  Exhibitions in Moscow  NICA Collider  capital outflow  Fabio Capello  Russian regions  Yevgeny Boratynsky  Cities of Russia  adoptions in Russia  Moscow Architecture  Psaltery  Russian aviation  Russian football  biking in Russia  Primorsky Territory 


Travel Blogs
Top Traveling Sites