Swiss Stocks Are Crashing As Oligarch's Holdings Hit By US Sanctions

Update: After tumbling 10% earlier, Oerlikon officials have responded:

  • *OERLIKON SAYS NOT AFFECTED BY US SANCTIONS VS VEKSELBERG

  • *OERLIKON ISN'T SUBJECT TO US SANCTIONS

*  *  *

Investors in Switzerland are hitting the panic button as Washington sanctions against Russian oligarch Viktor Vekselberg have sent share prices in his biggest holdings plunging.

Vekselberg has major holdings in Renova, Sulzer, Oerlikon, Schmolz & Bickenbach, and Zublin.. and due to the sanctions, no US dollar payments are allowed anymore.

Here is what Bloomberg shows for those stocks...

Switzerland's broad market index is also tumbling...

h/t @Russian_Market

Comments

CompassionateC… Mon, 04/09/2018 - 09:04 Permalink

This is anudda shoah!  How dare tRump sanction one of God's Chosen Christ-killers!  I'm reporting this to the ADL right away!  The sanctions should only apply to Russian goyim!

east of eden JoseyWalesTheOutlaw Mon, 04/09/2018 - 09:30 Permalink

Well, it sounds as if you are not aware, that if it had not been for the Swiss National Bank buying your stock market over the last 8 years, that you would still be deep in a depression.

Making happy that the Swiss market is plunging only hurts you. It destroys liquidity in the Swiss market and will prevent their CB from continuing to support your stock market.

As usual, the big mouthed American, is nothing but a fool.

In reply to by JoseyWalesTheOutlaw

east of eden aspen1880 Mon, 04/09/2018 - 09:35 Permalink

I guess you haven't been around for very long. In the previous crash 08/09, the market didn't make it's final blow-out collapse until well after the market had begun to sell off. Program trading and individuals high on 'hopium', will always buy at some point. Just because they buy, does not nullify the coming consequences.

In reply to by aspen1880

Cutter Mon, 04/09/2018 - 09:24 Permalink

“No US Dollars are allowed to be used.”  Sounds like a great plan to make the Yuan the reserve currency. Our brilliant policy makers shoot themselves in the hand again. 

66Mustanggirl Mon, 04/09/2018 - 09:26 Permalink

I would suggest everyone go back and read very carefully the president’s E.O. of 12/21/2017 on Human Trafficking and CORRUPTION.  

 

Seriously, you people really, really need to get in the game.  The window to catch up on what is happening on the world stage is rapidly closing. Tick. Tock.

Moribundus Mon, 04/09/2018 - 09:47 Permalink

World community should immediately isolate USA and Britain. First step should be to kick them out of UN completely. Move UN out of imperial soil. Disolute NATO and sent US troops home. Cut all economic ties that can be easily replaced.

 

agcw86 Mon, 04/09/2018 - 10:07 Permalink

These times are even getting hard for child predators. Is any corrupt way of life safe anymore? How will the top carnivores steal the remaining wealth of the world? This is terrible; they might have to work for a living?

TwoHoot Mon, 04/09/2018 - 10:10 Permalink

What happened to ZH? I came here early for financial market insight but now all I get is Russian propaganda. It is now like Al JIZZera (sp?), but Russian. Oh well, at least I know where to go for the Russian viewpoint on world affairs.

I also notice that all the adult posters have moved on somewhere else, leaving only juvenile trolls here.

All good things must end but I miss the old ZH.

East Indian Mon, 04/09/2018 - 10:46 Permalink

well, the Western oligarchs have realised that Putin will not care if the Russian oligarchs in exile are fleeced. So these Russian oligarchs, who fled away from Russia with their loot, are now fair game. They will go back to Russia paupers.