London-traded Russian companies plunge as much as 75% on tightening sanctions

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Russian companies with dollar-denominated listings in London plunged on Monday after the West moved to cut some Russian banks from the SWIFT messaging system. Sberbank SBER, -63.23% dropped 75%, and Lukoil LKOD, -53.93% fell 58%. Rosneft Oil ROSN, -42.59% dropped 41% as BP said it would exit its minority stake. Gazprom Neft GAZ, -25.93%, the oil producing subsidiary of Gazprom, dropped 25%, and PhosAgro PHOR, -65.39% skidded 55%.

This article was originally published by Marketwatch.com. Read the original article here.

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