Sanctions
Rethinking sovereign risk
‘Risk-free’ assets now include the possibility of complete confiscation with no recourse
Euroclear bars rubles and Russia equities trading remains suspended
Ukraine places war bonds as unconfirmed report says Russian SWF may support equities
Sanctions prevent Bank of Russia FX interventions
Governor Elvira Nabiullina says central bank has not been able to support plummeting ruble
US, EU and UK tighten sanctions as Nabiullina orders massive rate rise
Bank of Russia implements more emergency measures as currency falls sharply
Western officials call for freeze of Bank of Russia’s overseas assets
Nabiullina pledges liquidity support as Bundesbank official says any central bank assets are frozen
Some Eurosystem central banks hold Bank of Russia assets, ECB says
Holdings could become significant if further sanctions directly target Russian central bank
Russian central bank announces string of emergency measures
Bank of Russia announces liquidity support, FX interventions and changes to capital ratings
Commodity prices rise sharply after Russia’s invasion of Ukraine
Energy prices already account for around 50% of headline inflation in the eurozone
US announces initial financial sanctions on Russia
Biden administration bars secondary market bond transactions, but expert says impact likely to be limited