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EU/US Sanctions – Impact on the Russian Commercial Real Estate Market

In this short note we consider the impact of the recently imposed EU and US sanctions on the Russian commercial real estate market. Given the strength and depth of the market we believe the key determinant will be the duration of the sanctions. Assuming they are short-lived we believe the impact will be limited. The longer that sanctions persist, however, the greater the risk for the sector and the economy in general.

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