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Many entities in the west own vast amounts of Russian assets that have been frozen. Particularly energy companies, have billions and billions of dollars' worth
by vba616 5y ago
Many entities in the west own vast amounts of Russian assets that have been frozen. Particularly energy companies, have billions and billions of dollars' worth of shares of Russian companies. They probably have better lobbyists than anyone using Robinhood.
https://finance.yahoo.com/news/shell-faces-pressure-over-gazprom-114729229.html https://finance.yahoo.com/news/shell-faces-pressure-over-gaz...
For now, they're writing it off, valuing at zero, it sounds like. It's impossible to sell, so they have to assume it's completely worthless.
If this never ends, at some point it amounts to giving everything in Russia, to Russia, for free.
A famous quote from Warren Buffett that every investor should know: "Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years."