S&P Global suspends commercial operations in Russia

Financial information provider S&P Global Inc said on Wednesday it was suspending its commercial operations in Russia, joining a host of U.S. companies severing ties with the country in the wake of its invasion of Ukraine.

The company, which recently closed its $44 billion acquisition of peer IHS Markit Ltd, said it would continue to provide information on the Russian markets for its customers around the world.

Financial giants including PayPal Holdings Ltd, Visa Inc and Mastercard Inc have also suspended their Russian operations, as the West tightens economic sanctions on the country.

These sanctions have frozen much of Russia's central bank's $640 billion in assets, barred several banks from global payments system SWIFT and sent the rouble into free fall.

Earlier this month, credit rating agencies Moody's and Fitch also suspended commercial operations in Russia.