Sanctions Hitting Rosneft Hard?

[Seleskya + 50]

What does it mean for Rosneft that it's had to borrow record amounts on its domestic bond market this year to fund oil?  

https://oilprice.com/Energy/Energy-General/Rosneft-Takes-On-Record-Debt-As-US-Sanctions-Weigh.html

 

 

[Kate Turlington + 44]

I don't think it means as much as the West would like it to mean, but they're now talking about sanctions on bond--meaning sanctioning Russia's sovereign debt, which could hurt a lot more, especially since Rosneft is relying on this right now to fund new oil projects. I'm not an economist, but I think this would be much more hard-hitting. Unless anyone has a more information perspective on this ... 

[LAOIL + 33]

How do you sanction a country's sovereign wealth? Not sure I follow

[Kate Turlington + 44]

Well, you're not sanctioning their domestic bond market, per se ... you're banning foreigners from buying Russia debt. And right now, foreigners hold about one-third of Russia's outstanding debt (Bloomberg).