Moody’s worried about CIS over Ukraine crisis

Moody’s has published a forecast stating that the CIS will see a loss of foreign trade, direct investments and money transfers over the Ukraine crisis, Vedomosti reports.

Ukraine will have a GDP drop of 5-10%. Referendums in the Luhansk and Donetsk oblasts added to the currency crisis, according to Moody’s.

Overall, the rating agency predicts that the situation in the CIS will worsen as soon as the EU imposes clear economic sanctions and Russia takes countermeasures.