It’s still unknown how far Western allies will go to punish Russia. U.S. President Joe Biden is expected to spell out the economic penalties in a public address scheduled for Thursday afternoon. Kicking Russia out of the messaging system used for financial transactions called Swift would be the most extreme step.
“Prices are all over the place,” said Ksenia Mishankina, a research analyst at Loomis Sayles. “If Russia is cut off from the international settlement system, how do you pay coupons? Everything is on the cards at the moment.”
This article was provided by Bloomberg News.