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Russian bonds trading volumes shrivel as sanctions bite -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This illustration, taken on March 1, 2022, shows a Russian Ruble banknote in front of an ascending stock graph. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters – Russian bond trading volumes fell on Monday, as Western nations increased sanctions following Moscow’s incursion in Ukraine. Marketaxess data showed Tuesday.

Marketaxess stated late on Tuesday, that until further notice it would not be able to trade on Russian sovereign bonds or corporates.

The United States, Russia, and the European Union have placed sanctions against Russia’s central banking, top businesses and officials. This includes President Vladimir Putin.

According to data, Monday’s trade volume was only 1.2 million euros (or $13.44 million), compared with Friday’s 53 million euro trading.

The local currency market showed an identical picture, with 8.4 Million Roubles ($86,846) worth of debt being traded Monday, compared to almost 27 billion on Friday.

Data from the trading platform revealed that volumes fell on Monday, averaging out of roubles and euros, to one-tenth of Friday’s trade.

($1 = 0.8949 euros)

($1 = 96.7220 roubles)

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