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Liquidity Vanishes Across Russia Assets With Ruble Plunging

  • No trades are coming through on ruble, FP Markets says
  • Russia central bank bans foreigners from selling securities
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WATCH: EU Foreign Policy Chief Josep Borrell discusses the decision to block transactions with Russia’s central bank.Source: Bloomberg
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‘Too risky to deal in’ is the mantra from foreign-exchange to equities trading floors as investors step back from dealing with Russian assets. 

Spreads on the ruble have widened by eight times, with market makers from Sydney to Hong Kong pulling back, traders said. Nomura Holdings’ domestic securities arm said it will suspend taking purchase or sale orders for the time being on four investment trusts that contain Russia-related assets. Singapore said it would block certain Russian banks and financial transactions connected to Russia.