Morningstar to remove Russian securities from fixed income indexes

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March 9 (Reuters) - Index provider Morningstar (MORN.O) on Wednesday decided to remove Russia securities from its fixed income indexes beginning March 31 and immediately move the country from emerging markets to unclassified.

The country's financial markets have been thrown into turmoil by sanctions imposed over its invasion of Ukraine, the biggest attack on a European state since World War Two.

Earlier this week, JPMorgan (JPM.N), which runs the most widely used emerging market bond indexes, said Russia will be excluded from all its fixed income indexes on March 31.

Index providers FTSE Russell and MSCI said last week they were taking similar steps as deepening sanctions and public pressure isolate Russia's economy from Western investment and trading partners. read more

Morningstar said its indexes will remove cash and accrued interest from all Russian issuers regardless of payment status, from March 9 for all indexes except the Morningstar Infrastructure Bond Indexes.

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Reporting by Mrinalika Roy in Bengaluru; Editing by Arun Koyyur

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