Russia closed its stock and bond markets hours after President Vladimir Putin sent thousands of troops into Ukraine on 24 February. In March, it began a phased re-opening which was limited to bonds issued by the Russian government. Russia had sealed off its markets in February to restrict money from leaving the country during the war. The Moscow Exchange said it would be reopening its bond market to “non-resident clients from countries that are not hostile, as well as non-residents whose ultimate beneficiaries are Russian legal entities or individuals”. Is Russia easing out its restrictions?

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