ICYMI, these from earlier:
More now from the Wall Street Journal (bolding mine):
- The Biden administration will impose a range of retaliatory measures against Russia on Thursday
- Using a new executive order, the measure will expand the existing prohibitions on U.S. banks trading in Russian government debt, two of the people said.
- Previous prohibitions targeting portions of Russian sovereign debt shook Russia's markets and added to its economic woes.
- That order prohibits U.S. financial institutions from buying new bonds directly from Russia's central bank, finance ministry and the country's massive sovereign wealth fund after June 14.
As I said earlier, this is risk-negative news