Financial Post | Business

The Market Vectors Russia ETF fell, extending the worst performance among the biggest emerging-market exchanged-traded funds as the U.S. and the European Union imposed new sanctions on the country over the Ukraine war.

The ETF slid 2.5 percent to $24.44 in New York yesterday. It has fallen 8.8 percent in the past two months, the most among emerging-market ETFs with assets of $1 billion or more, data compiled by Bloomberg show. OAO Rosneft, the state-run oil producer that has been targeted by international sanctions, led a 2.4 percent drop in the Bloomberg Russia-US Equity Index.

Stocks sank as the U.S. joined the EU in stiffening sanctions against Russia including measures aimed at the financial, energy and defense industries. The 28 European governments also agreed to curbs on assistance for oil exploration and production. New measures taking effect today are the latest in a series of international sanctions intended to punish…

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