Russia's Novatek shares extend losses to almost 9 pct after sanctions

MOSCOW, July 17 Thu Jul 17, 2014 7:17am EDT

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MOSCOW, July 17 (Reuters) - Shares in Russia's No.2 gas producer Novatek extended their losses on Thursday to almost 9 pct in Moscow after the United States imposed new sanctions, effectively ending medium- and long-term dollar funding for the company.

Shares in Novatek were down 8.8 percent at 364.94 roubles per share at 1113 GMT compared with an earlier drop of 5 percent. (Reporting by Polina Devitt, editing by Elizabeth Piper)