JPMorgan said on 7 March that it would exclude Russian sovereign and corporate debt from all of its widely tracked fixed-income indexes, as Wall Street further decoupled from Russia in the wake of economic sanctions tied to the invasion of Ukraine.

JPMorgan’s move, effective March 31, will exclude Russia’s sovereign and corporate debt from fixed-income benchmarks, including the Emerging Market Bond Index (EMBI) and the Corporate Emerging Market Bond Index (CEMBI). Along with Russia, Belarus’s sovereign debt will also be excluded from the bank’s environmental, social and governance-linked indexes as of March 31, JPMorgan said.