daragh: that would be one of them.ree to which sovereign debt has been put out of this big redline, russia does not issue a lot of debt at the moment. it has massive foreign currency reserves. it has been running up deficit through the coronavirus, but in most years it is comfortably able to self finance, and due to hydrocarbon reserves. if worse comes to worse, there were other ways it can act on international capital. the european union has enacted similar sanctions. do not know if they are going to or if that might be a step too far for brussels and member states. it is not necessarily the locking out of russia from financial markets, but more increasing friction and making it more difficult for russia to engage in international markets. and for institutional investors around the world, is this a country whose debt we want to be lying? -- we want to be buying? when a country does issue debt, basically this is the u.s. government saying we are in an adversarial relationship, and we do not want u.s. financial corporat