Fitch, Moody's slash Russia's sovereign rating to junk as sanctions mount

The Ukraine invasion has triggered a flurry of credit rating moves

Russia's financial markets have been thrown into turmoil by sanctions imposed over its invasion of Ukraine, the biggest attack on a European state since World War Two.
 

The invasion has triggered a flurry of credit rating moves and dire warnings about the impact on Russia's economy. S&P lowered Russia's rating to junk status last week.
 

It also prompted index providers FTSE Russell and MSCI to announce on Wednesday that they will remove Russian equities from all their indexes, after a top MSCI executive earlier this week called Russia's stock market "uninvestable".
 

FTSE Russell said the decision will be effective from