SBRCY - Sberbank of Russia ADRs claw back a fraction of decline triggered by sanctions

Sberbank of Russia's (OTCPK:SBRCY +15.0%) ADRs are clawing back some of the losses they suffered on Thursday after the U.S. and allies announced plans to exclude the largest Russian bank from capital markets as part of sanctions imposed to punish Russia for invading Ukraine. Sberbank (OTCPK:SBRCY) (OTCPK:AKSJF) ADRs fell 60% on Thursday, closing the session at $3.60. In midafternoon trading in New York on Friday, the  ADRs were at $4.31, which is still 51% below its Wednesday close. The ADRs though, have been falling since Feb. 16 and have lost ~71% of their value since then, and they're 80% lower than its 52-week high of $21.63 reached on Oct. 11. By contrast, the VanEck Russia ETF (BATS:RSX) was up 2.8% in midafternoon New York trading, after falling 19% on Thursday. The shares, recently at $15.85, are down 38% from Feb. 16. Earlier, Russian ETFs rebound sharply at the opening bell.

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Sberbank of Russia ADRs claw back a fraction of decline triggered by sanctions