Russia has fallen into chaos and we’ll get a clearer sense next week of the impact that sanctions are having on the economy. A dollar bond repayment by Gazprom on Monday will be a litmus test of the government’s (and government-linked companies’) willingness to pay external debt, while CPI figures for the week just gone by (due Wednesday) are likely to show that the collapse in the ruble started to push inflation higher. In the meantime, we’ll continue to monitor whether stress in the banking sector is building.
Drop-In (8 March, 10:00 EST/15:00 GMT): We’re discussing Russian energy imports and Europe’s energy needs in this special 20-minute briefing on one of the big sticking points in the western response to the war in Ukraine. Register here.
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