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JPMorgan says Russia remains part of its emerging debt indexes, new bonds excluded -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: London’s Canary Wharf Office of JP Morgan, September 19, 2013, reflects workers. REUTERS/Neil Hall

LONDON, Reuters – JPMorgan (NYSE 🙂 stated Tuesday that Russian debt remains part of the emerging market bond indexes at present but that any new Russian debt will not be added starting March 1.

American bank JPMorgan has been closely following the emerging market indexes of the United States and has assessed the effect of Western sanctions on Russia.

There were no modifications to existing Russia bonds in these indexes as of February 28th, along with the CEMBI index.

However, it stated that Russia was under review and Belarus would be exempted from environmental, social and governance indexes beginning March 31.

JPMorgan stated that specific corporate or quasi-sovereign issues, like VTB Bank, and Russian state development bank VEB are being reviewed for possible removal from the indexes.

According to a note, the bank informed clients that the inclusion of Ukrainian currency local government bonds into the Government Bond Index–Emerging Markets Indexes would be delayed until further review because of ongoing market disruption.

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