Sanctions and market plans: economic moves reported before 19 March 2022
A look back at two economic developments reported on 18 March 2022, from Australian sanctions to a Russian stock exchange proposal.
What were governments and financial authorities doing on the economic front as 19 March 2022 began? Two developments reported on 18 March 2022 offer a partial answer.
Australia announced new sanctions against 11 Russian banks and government institutions. The announcement was made by Marise Payne, the country's foreign minister, as sanctions continued to be applied in response to the Russian invasion of Ukraine.
Separately, the Russian Central Bank was reported to be considering splitting its stock exchange into two separate exchanges. One would serve Russian residents and the other would serve foreigners. The idea was reported as under consideration, not as a decision taken.
Taken together, the two reports showed pressure and response on different sides of the economic confrontation: an outside government widening financial restrictions on Russian institutions, and Russia's central bank weighing changes to how its securities market handled foreign participants.
