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Prices could fall further as Congress moves forward legislation that would ban investors from buying newly issued Russian government debt
A growing drumbeat on Capitol Hill for further sanctions against Russia because of its interference in U.S. elections has hit Russian bond markets and the foreigners who trade in them.
Since U.S. legislators ramped up efforts at the start of August to pass laws that would penalize Russian financial and energy industries, Russian ruble-denominated bond prices have dropped about 7%, according to IHS Markit.