Index provider Morningstar will remove Russia securities from its fixed income indexes beginning

[yaesu]

31 March and immediately move the country from emerging markets to unclassified, Reuters reports.

Earlier this week, JPMorgan - which runs the most widely used emerging market bond indexes - also said Russia will be excluded from all its fixed income indexes on 31 March.

Index providers FTSE Russell and MSCI said last week they were taking similar steps as deepening sanctions and public pressure isolate Russia’s economy from western investment and trading partners.

Morningstar said its indexes will remove cash and accrued interest from all Russian issuers regardless of payment status, from 9 March for all indexes except the Morningstar Infrastructure Bond Indexes.