LONDON, Reuters – Moody’s Credit Rating Agency (NYSE:) advised Tuesday that Russia’s decision to prohibit servicing foreign-currency debts issued after stiff Western sanctions has increased the possibility of a sovereign rating downgrade.

Moody’s said Moscow’s move to prohibit residents from transferring foreign currency abroad or servicing any foreign-currency-denominated loans from Tuesday onwards reflected an increasing lack of predictability in its decisions.

Moody’s reported that Russia’s ban on servicing foreign currency debts was credit-negative.

These developments will increase the adverse financial consequences for the domestic economic and financial sector and raise the possibility of additional negative credit implications over the next days and weeks.”

Moody’s Russia Rating, Baa3, was placed under a review by Moody’s on Friday. It did so in light of Ukraine’s invasion. Hours later S&P Global (NYSE:) cut its equivalent investment grade Russian rating to ‘junk’ and immediately put it on another downgrade warning.

Since then, major measures have taken place, including sanctioning Russia’s Central Bank to stop it from mobilizing its large currency reserve and banning Russia’s top banks of the SWIFT Network. This has raised fears about a default.