RUSSIA: Limited Fallout Seen After Sanctions Hit Dollar Trade

•    Following the imposition of US and UK sanctions against the Moscow Exchange, the National Clearing Center, National Settlement Depository and branches of Russian banks abroad, reports began to emerge about the suspension of settlements with Russia, Vedomosti report. The sanctions will be a serious challenge for Russian businesses, but settlements have not been paralyzed and there will not be a fundamental impact on Russian exports and imports, experts told the newspaper.
•    The Moscow Exchange stopped trading of US dollars and euros due to the sanctions and the central bank set official exchange rates using data from the less transparent over-the-counter market for the first time on Thursday. Exchange trading of other currencies, foremost the yuan, was more volatile, Kommersant report.
•    The Federal Statistics Service will report inflation data for May at 17:00BST/19:00 local time (Est: +8.10% y/y; Prior: +7.84%), while the Bank of Russia publishes current account figures.