Russian President Vladimir Putin makes notes during a meeting in Samara, Russia, Monday, July 21, 2014. (AP Photo/RIA-Novosti, Alexei Nikolsky, Presidential Press Service)
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President Vladimir Putin's meddling in Ukraine has cost Russia dearly in financial markets.The yield on Russia's ruble debt due February 2027 fell nine basis points to 9.14 percent, trimming this month's increase to 64 basis points.U.K. Prime Minister David Cameron raised the prospects Monday of an EU-wide block on defense exports to Russia and targeted sanctions against the "cronies and oligarchs" around Putin unless Russia dropped its support of separatists.Russia had its credit rating cut to BBB-, the lowest investment grade ranking, in April by Standard & Poor's.The 2.5 percent decline for Russia's Micex equity gauge since the end of February compares with an 11 percent gain for emerging market stocks globally and a 6.1 percent rally in the Standard & Poor's 500 Index in the U.S.Russian stocks have whipsawed asset managers this year.Russian troops have begun massing anew on Ukraine's border recently.
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