The European Union has banned top credit rating firms from rating Russia's sovereign debt and the country's companies as part of its latest sanctions package, the European Commission said on Tuesday.
Russia may default on its debts in the wake of unprecedented sanctions over its invasion of Ukraine, but that would not trigger a global financial crisis, International Monetary Fund Managing Director Kristalina Georgieva said on Sunday.
France, Britain and Germany warned Russia on Saturday that its demands to have its trade guaranteed with Iran risked the collapse of an almost-completed nuclear deal.
U.S. President Joe Biden on Friday said the United States will revoke Russia's "permanent normal trade relations" status to punish Moscow over its invasion of Ukraine.
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