Central and Eastern Europe (CEE)

Middle East market the only game in town for ECM after a bear market for equities arrived in Europe on Monday, following reports that the US and its allies are considering an embargo on Russian crude oil

As Russia is frozen out, opportunities knock for Middle East markets

Billions tied up at major arrangers of Russian syndicated loans

Development bank also exploring funding package for Ukraine

Rouble option could prevent CDS trigger

Ukraine paid a bond coupon on Tuesday but Russia is taking steps to stop repaying foreign investors

Market would bear no grudge if Ukraine decided to withhold upcoming coupon payment

Russia’s invasion of Ukraine has ended a rally in European banking stocks

A moratorium on debt payments would hurt Western lenders and investors but also Russia's long term market reputation

Shares in Europe's most exposed banks dropped on Monday as countries ramped up restrictions

Fund managers see growing likelihood of Russia removal from EMBI

The Central Bank of Russia's healthy foreign reserves were a buffer for Russian issuers but the US is leading the charge to cut these off