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.

Link here (may be gated)

As I said earlier, this is risk-negative news