Russian Foreign Ministry on German accusations says Russia will respond to all anti-Russia actions

Historically the market-relevant question is not the pledge itself but what instrument it eventually takes, since the transmission differs sharply by case. Expulsions, sanctions on individuals, or legal measures have tended to be market-negligible; measures touching energy flows, payment channels, or export controls are the ones that have moved spreads, freight and insurance costs, and the exposed equity peer set. Russia's prior form in these exchanges has been asymmetric and delayed rather than immediate, so the absence of detail in the wording is itself the tell. Worth watching is whether the German accusation is accompanied by concrete action, such as indictments, expulsions, or new EU-level measures, since a verbal exchange alone has rarely sustained a risk premium. As a headline this sits in the low-grade rhetorical category unless and until a specific retaliatory measure is announced.