Shares in some Russian companies targeted by new U.S. sanctions plummeted on Friday, but the broader market showed little reaction to the new round of geopolitical tensions.

The United States imposed sanctions against Russian businessmen, companies and government officials, striking at associates of President Vladimir Putin in one of Washington’s most aggressive moves to punish Moscow for a range of activities, including alleged meddling in the 2016 U.S. election.

Shares in EN+ Group, which is on the sanctions list and manages tycoon Oleg Deripaska’s aluminum and hydropower assets, were down 20.9 percent on the London stock exchange as of 1535 GMT.

Shares in Rusal, a Russian aluminum giant also included on the list, fell 16 percent on the Moscow Exchange. Deripaska stepped down as president of Rusal in February.

A trader at a U.S. bank in Moscow, who asked not to be named, said the main reason for such steep drops was that the sanctions require investors subject to U.S. jurisdiction to ditch the stocks within a month.

“Investors have to cancel positions before share prices hit the ground. European investors are likely to sell these shares only because of the negative mood. Very bad news,” the trader said.

A General License document published by the U.S. Treasury alongside the new sanctions list said investors had until May 7 to “to divest or transfer debt, equity, or other holdings” in EN+, Rusal and Russian vehicle maker GAZ.

Shares in GAZ, in which Deripaska also controls a majority stake, were up 1.95 percent in Moscow.

BCS brokerage said in a note that the new U.S. measures dashed Rusal’s hopes of inclusion in the global MSCI index.

“The stock will not enter MSCI indexes due to sanctions, despite all other criteria having been met,” BCS said.

Rusal said it regretted its inclusion on the new U.S. list, adding that its advisers were studying the situation.

The benchmark MOEX index fell briefly after the sanctions were announced but soon returned to its levels earlier in the day. At 1450 GMT, the rouble-denominated index was 0.5 percent lower at 2,283.6 points.

Market-watchers said the scale of new sanctions, which hit Deripaska and Andrei Kostin, the head of Russia’s number two lender VTB, came as a surprise. But the negative market impact will not be long-term, they said.

“There will be no particular impact on the economy and the markets,” said Andrey Movchan, director of the Economic Policy Program at the Carnegie Moscow Centre.

“The effect is rather psychological, as for the first time sanctions hit people who are informally connected to the authorities. This could be a stronger signal for Russian oligarchs that they are not immune.”

The rouble weakened against the dollar to its lowest level since Feb. 12 after the new sanctions were announced, but was also hit by falling oil prices.

New U.S. sanctions to hit Russian oligarchs close to Putin

The currency was 0.6 percent weaker at 58.07 versus the dollar at 1535 GMT, and Brent crude futures were 1.6 percent lower on the day, at $67.26 per barrel.

“Such publications do not weaken the rouble and the stock market, but they hamper their growth. The only thing that limits growth (on the Russian market) is geopolitics,” said Vladimir Miklashevsky, senior economist and trading desk strategist at Danske Bank in Helsinki.

Below are the names of the most prominent businessmen targeted along with their main assets/connections and extracts from the U.S. Treasury statement.

DESIGNATED RUSSIAN OLIGARCHS

OLEG DERIPASKA, main owner of En+, co-owner of Rusal and Norilsk Nickel

Deripaska is ranked by Forbes magazine as Russia's 19th richest businessman with a net worth of $6.7 billion. Deripaska holds regular meetings with Putin, invested heavily in Russia's 2014 Sochi winter Olympics, and has said his own interests are indivisible from the state's.

En+ has a 48 percent stake in Rusal, one of the world’s largest aluminum producers. Rusal is listed in Hong Kong and counts Glencore among its shareholders.

Rusal has assets in Italy, Ireland, Sweden, as well as Nigeria, Guyana, Guinea, and a stake in Australian QAL, the world’s top alumina refinery. Over 10 percent of Rusal’s total sales go to the United States.

FROM U.S. TREASURY STATEMENT:

"Oleg Deripaska is being designated... for having acted or purported to act for or on behalf of, directly or indirectly, a senior official of the Government of the Russian Federation, as well as... for operating in the energy sector of the Russian Federation economy."

VIKTOR VEKSELBERG, key owner of Renova holding group

Forbes magazine ranks Vekselberg as Russia's ninth richest businessman with a net worth of $14.4 billion. He is famous for bringing back a collection of Faberge eggs to Russia.

Apart from Russia, Renova has assets in the United States and Europe, of which the most notable are stakes in the Swiss companies Sulzer, Schmolz+Bickenbach and Oerlikon. They are not under sanctions.

Vekselberg and his partners also have a stake in Rusal , which supplies aluminum to the United States and other countries.

FROM U.S. TREASURY STATEMENT:

"Viktor Vekselberg is being designated for operating in the energy sector of the Russian Federation economy. Vekselberg is the founder and Chairman of the Board of Directors of the Renova Group."

KIRILL SHAMALOV, minority shareholder with petrochemical company Sibur

Shamalov married Putin's youngest daughter Katerina in February 2013, multiple sources who were at the wedding told Reuters. After the marriage, he swiftly grew his wealth through investments in Russia's biggest petrochemical company Sibur. Unconfirmed media reports say Shamalov and Putin's daughter have since split.

Forbes magazine says Shamalov is Russia's 72nd richest businessman with a net worth of $1.4 billion. Shamalov now owns 3.9 pct in Sibur. Gennady Timchenko, a close associate of President Vladimir Putin, holds a stake in the company as well. Sibur is not under sanctions.

FROM U.S. TREASURY STATEMENT:

"Kirill Shamalov is being designated for operating in the energy sector of the Russian Federation economy. Shamalov married Putin’s daughter Katerina Tikhonova in February 2013 and his fortunes drastically improved following the marriage."

ANDREI SKOCH, a deputy in the Russian State Duma, the lower house of parliament

Forbes magazine says Skoch is Russia's 23rd wealthiest businessman with a net worth of $4.9 billion. Skoch's father, Vladimir, owns a stake in USM holding. Businessman Alisher Usmanov is a key shareholder in USM. Neither Usmanov nor USM are under sanctions.

Via USM, Skoch's father co-owns Metalloinvest, Russia’s largest and the world’s second-largest mining company by the size of iron ore reserves, with units in Ireland, Switzerland and Guinea.

USM also has stakes in Megafon, Russia’s second largest mobile operator, in MAIL.RU Group, one of Russia’s largest internet companies, and in Russian social networks VKontakte and Odnoklassniki.

USM also has stakes in Alibaba, JD.com, Xiaomi, Uber, Spotify, Airbnb, Zalando, Flipkart, Ola Cabs, Didi Chuxing, ZocDoc and Klarna.

FROM U.S. TREASURY STATEMENT:

"Andrei Skoch is being designated for being an official of the Government of the Russian Federation. Skoch is a deputy of the Russian Federation’s State Duma."

SULEIMAN KERIMOV, member of the Russian upper house of parliament

Kerimov is ranked by Forbes magazine as Russia's 20th wealthiest businessman, with a net worth of $6.4 billion. Embroiled in a tax fraud investigation in France, the Kremlin has said it will do all it can to help him.

Polyus, Russia's largest gold producer, is controlled by Kerimov's family. Polyus is not under sanctions.

FROM U.S. TREASURY STATEMENT:

"Suleiman Kerimov is being designated for being an official of the Government of the Russian Federation. Kerimov is a member of the Russian Federation Council."

VLADIMIR BOGDANOV, chief executive of oil company Surgutneftegaz

Forbes magazine puts Bogdanov's net worth at $1.8 billion, making him Russia's 53rd wealthiest businessman.

Surgutneftegaz is already under sanctions.

FROM U.S. TREASURY STATEMENT:

"Vladimir Bogdanov is being designated for operating in the energy sector of the Russian Federation economy. Bogdanov is the Director General and Vice Chairman of the Board of Directors of Surgutneftegaz, a vertically integrated oil company operating in Russia."

IGOR ROTENBERG, son of Arkady Rotenberg, Putin's former judo partner

Forbes magazine says Igor Rotenberg is Russia's 93rd richest businessman and worth $1.1 billion.

Arkady Rotenberg and his brother Boris Rotenberg are already under sanctions due to their close connections to Putin whom they have known since they practiced judo together in St Petersburg in Putin's younger days. Arkady Rotenberg is now overseeing the construction of a bridge Putin has championed to Russia-annexed Crimea.

FROM U.S. TREASURY STATEMENT:

"Igor Rotenberg is being designated for operating in the energy sector of the Russian Federation economy. Rotenberg acquired significant assets from his father, Arkady Rotenberg, after OFAC designated the latter in March 2014. Specifically Arkady Rotenberg sold Igor Rotenberg 79 percent of the Russian oil and gas drilling company Gazprom Burenie."

DESIGNATED OLIGARCH-OWNED COMPANIES

Companies from Deripaska's business empire:

B-Finance Ltd, Basic Element, EN+ Group, EuroSibEnergo, Rusal, Russian Machines, GAZ Group, Agroholding Kuban

Companies from Igor Rotenberg's business empire:

Gazprom Burenie, which provides oil and gas exploration services in Russia and NPV Engineering

Shamalov's Ladoga Menedzhment which is engaged in deposit banking

Vekselberg's Renova Group

DESIGNATED RUSSIAN STATE-OWNED FIRMS

Rosoboroneksport and the Russian Financial Corporation Bank which is owned by Rosoboroneksport

DESIGNATED RUSSIAN GOVERNMENT OFFICIALS

Andrey Akimov, chairman of the board at Gazprombank

Andrey Kostin, president of VTB bank

Alexey Miller, chief executive of Gazprom

Mikhail Fradkov, president of the Russian Institute for Strategic Studies

Sergey Fursenko, member of the board of directors of Gazprom Neft

Oleg Govorun, head of the Presidential Directorate for Social and Economic Cooperation with the Commonwealth of Independent States Member Countries

Alexey Dyumin, the governor of the Tula region

Vladimir Kolokoltsev, the minister of internal affairs

Konstantin Kosachev, the chairperson of the council of the Federation Committee on Foreign Affairs

Nikolai Patrushev, secretary of the Russian Federation Security Council

Vladislav Reznik, member of the Russian State Duma

Evgeniy Shkolov, an aide to the President Vladimir Putin

Alexander Torshin, deputy governor of the central bank

Vladimir Ustinov, the plenipotentiary envoy to Russia’s Southern Federal District

Timur Valiulin, the head of the General Administration for Combating Extremism within Russia’s Interior Ministry

Alexander Zharov, the head of Roskomnadzor

Viktor Zolotov, the director of the Federal Service of National Guard Troops and Commander of the National Guard Troops

*Data from OFAC, public interviews, companies information (Reporting by Katya Golubkova, Gleb Stolyarov and Oksana Kobzeva Editing by Andrew Osborn and Susan Fenton)