As fresh sanctions were levelled against Russia amid the conflict in Ukraine over the weekend, shares in agricultural company Don Agro tumbled 9.33% as at the close of Feb 28 to 34 cents.
The Catalist-listed company is primarily in the business of growing, processing and distributing agricultural and dairy products at farms located in the Rostov region, which borders Ukraine.
The group’s products are also sold mainly in Russia.
Western allies, on Feb 26, made the move to block selected Russian banks from the SWIFT global payments system, which saw the Russian rouble tumble to a record low against the US dollar on Feb 28.
When the company was asked to comment, via its pr rep, they said that there’s no comment for now.
Photo: Don Agro
