By Andrei Skvarsky.
In a survey by Aton, one of Russia’s oldest investment companies, 76 per cent of more than 100 Russian institutional investors said they thought the West is unlikely to soften its sanctions against Russia.
Just 24 per cent of those questioned saw “an average or high probability” of the sanctions being eased, the Moscow-based company said in a report.
As for the rest of respondents – investors having assets of about $35bn under management, – 30 per cent believed the softening of the sanctions was “very unlikely” and 46 per cent saw it as “unlikely”.
Aton said, however, that it believed Russia’s financial markets had fully adjusted to the sanctions. The markets have “fully priced in the imposed sanctions and we see no further associated downside if they remain in place”, it said.
Aton also argued that Russia’s economy had adjusted to low oil prices.
According to Aton, the returns of the survey essentially coincided with the company’s own forecast.