RUSL - Russia retaliates against Western sanctions; Moscow Stock Exchange still closed

As the drumbeat of Western sanctions against Russia gets louder, Moscow is looking to fight back and insulate its economy from the penalties. Vladimir Putin has already hardened capital controls, banning all Russian residents and companies from transferring foreign currency abroad to prop up the plummeting ruble. The steps include a ban on payments of hard currency made to foreigners "in connection with [new] loan agreements," and some say it could even lead to a default on Russian debt, an occurrence that last happened in 1998 and Russia vowed never to happen again. Commentary: "Putin is himself now cutting Russia off from international capital markets for a very long time. Russia's financing costs will stay elevated for a long time - even the Chinese will not lend," said economist Timothy Ash, a specialist in Russian government debt. The Moscow Stock Exchange was shuttered all day on Monday and it will

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Russia retaliates against Western sanctions; Moscow Stock Exchange still closed