Five Things You Need to Know to Start Your Day
Get up to speed with what's moving markets
Good morning. A ban on Russian residents, companies cut ties to Russia, Swiss enforce sanctions and investors ponder Russian assets. Here’s what markets are watching.
President Vladimir Putin banned all Russian residents from transferring foreign currency abroad, hardening capital controls as part of a package of retaliatory measures for U.S. and European sanctions over his invasion of Ukraine. The steps, which take effect today, include a ban on payments of hard currency made to foreigners “in connection with loan agreements.” The central bank later issued a clarification, saying the ban “only covers new loans and not servicing of existing debt.”