World press on the impact of anti-Russian sanctions on European business (May 7, 2014)

"European Business Hit By Russian Slowdown" is an article published today by the Wall Street Journal.

"A swath of European businesses, from banks to brewers, are taking big hits to their bottom lines caused by the political uncertainty surrounding Moscow's standoff with the West over Ukraine and the dwindling Russian economy. French bank Société Générale SA said Wednesday that a EUR525 million ($731.26 million) write-down on its Russian business pushed first-quarter net profit down 13%, while Carlsberg A/S and Imperial Tobacco Group PLC both said that falling sales in Russia and a weak ruble had cut profit and would weigh on revenue for the remainder of the year. Brewers and cigarette makers have been hurt in recent quarters by tighter regulation on beer and tobacco sales, long before Russia annexed Crimea," the article reads. 

"But the political standoff with the West since the crisis has put further pressure on the ruble and pushed the Russian economy toward recession. Yet more evidence of the decline came on Wednesday, as the HSBC Purchasing Managers' Index, which tracks output of Russia's service providers and manufacturers, contracted in April at its swiftest pace since May 2009. The worsening Russian economy has clouded revenue and earnings forecasts for many big European companies, which have recently relied on the country as an engine of growth."

The article mentions Carslberg, Imperical Tobacco, Oriflame and Unilever among other European companies which are experiencing the impact of sanctions against Russia.

"Sanctions Meant to Hurt Russia Take Bite in Europe" is another article on the topic published today by the Associated Press and reprinted in the ABC news. 

The aricle also mentions BP and as one of the companies affected by the sanctions: "BP, which has a 20 percent stake in Russia's largest oil producer, Rosneft, is facing even more complications. Rosneft's CEO is targeted by U.S. sanctions, and BP last week said its earnings from the Rosneft stake fell sharply in the first quarter because of the sliding ruble. And in Germany, factory orders plunged unexpectedly in March as the government warned that the crisis over Ukraine could add to underlying weakness among companies showing "temporary restraint in ordering activity due to current geopolitical events."