A new wave of Western sanctions is hitting Russia’s economy hard. State-owned energy firms continue to bleed profits and Russia’s national currency plunged to a new low this week after the U.S. and the European Union announced new sanctions to punish Russia’s aggressive stance in eastern Ukraine.

Rosneft is one of the companies targeted by the new sanctions European Union member states have formally adopted new sanctions on Russia over the Ukraine crisis. The new measures include restrictions on large Russian state-owned oil companies raising money on European financial markets. However,

Sanctions imposed by Switzerland on Russia are unfounded and are copying unfriendly steps by the United States and European Union, Russia's Foreign Ministry said in a statement on Thursday. "We view these decisions.... as unfounded and as showing that the Swiss people, to the detriment of their own