London began the seizure of assets of Gazprom
The US can sue OPEC for price manipulation. The UK has started the seizure of assets of Gazprom. The Russian market started the correction.
The position of Donald trump-OPEC is relatively well known. Trump criticizes the largest oil cartel in years. After numerous tweets last trump, the United States Congress agreed to resume consideration of the bill “Against the cartels for the production of export of oil”. Earlier, the entry into force of this law has blocked George Bush, Jr. and Barack Obama. But Donald trump could become the first President who will sign this law.
Meanwhile it became known that the UK followed by Switzerland and the Netherlands have begun to seize assets of Gazprom. According to “Naftogaz Ukraine” the commercial court of London are allowed to freeze the assets of Gazprom in the UK. Gazprom is obliged to provide Naftogaz with a list of their assets located in British territory. Also, the UK has threatened gas giant with fines if Gazprom is to somehow oppose this decision.
On this background the dollar on the Moscow exchange holds near 63 rubles 60 kopecks, the Euro is trading around 73 rubles 50 kopecks. The MICEX index rose to 2255 points, quotes of Brent crude oil has again surpassed $ 75 per barrel. Bitcoins according to the website CoinMarketCap is around 6600 dollars.
The amazing thing is that Gazprom shares are rising against the decision of the London court. However, quotes are now subject to local adjustments in the Russian market. The MICEX index declined for the last few weeks and today is the first day quite steady movement to the top. We have previously said that the prospects of Gazprom’s shares is not quite enviable. The last 6 months quotes are kept in the range from 130 to 150 rubles per share and the purchase is possible only at decrease in the area of 130-135 rubles.
As for the situation on the Russian currency market, then our predictions here do not change. Now locally, the ruble could strengthen somewhat against the dollar and the Euro on the background of the tax period. But generally in the summer we expect to be is not simple enough for the domestic currency and by September we expect to establish new highs in the USD/ruble.
The head of the analytical Department of the company,