Russia's Novatek shares fall 12 percent over U.S. sanctions

MOSCOW Fri Mar 21, 2014 4:45am EDT

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MOSCOW (Reuters) - Shares in Russia's top non-state natural gas producer Novatek (NVTK.MM) fell by 12 percent on Friday after the United States announced sanctions against Russian officials and businessmen because of the situation in Ukraine.

The company is part-owned by Gennady Timchenko, a shareholder of Bank Rossiya and one of the wealthy businessmen who has been sanctioned because of alleged links with Russian President Vladimir Putin.

(Reporting by Vladimir Soldatkin)