Can foreign investors weather another round of Russia sanctions?

Ten years ago, a veteran Moscow broker told Euromoney that the financial crisis had been the final straw for less committed international investors in Russia. As he put it: “The tourists are long gone.”

Since then, Russian capital markets have been through the bursting of a consumer credit bubble in 2013, the Ukraine crisis and sanctions by the West in 2014, followed swiftly by the collapse of oil prices, further sanctions in April 2018, and the Russia-related turmoil of the US presidency of Donald Trump.