Some holders of a $1.3 billion Gazprom PJSC bond due Monday said they received payment in dollars, even after Russian President Vladimir Putin gave issuers the option of repaying foreign-currency debt in rubles, Bloomberg News reported. Bondholders said they received cash to pay off the bonds Monday. The bond paid Monday was among those snapped up at distressed prices last week as Wall Street investors eyed buying opportunities amid Russia’s invasion of Ukraine. Goldman Sachs Group Inc. and JPMorgan Chase & Co.

Banks may continue to drift away from London if the European Central Bank intensifies its scrutiny of their presence in the bloc, the Bank of England’s deputy governor said, Bloomberg News reported. Jon Cunliffe said the ECB may require some business to move back to the European Union following its ongoing review of banks’ booking models and trading desks. He added that firms may respond by moving to the U.S. instead or elsewhere in the coming years.

After a pandemic and a global chip crunch, Russia’s war in Ukraine has unleashed auto makers’ third supply-chain crisis in as many years, the Wall Street Journal reported. The fighting in Ukraine has shut down small but important industry suppliers, shutting plants far away from the conflict zone, while sanctions and severed trade routes are hindering car and parts shipments to and from Russia, once seen as a growth market.

Textile and leather goods' makers in Istanbul's garment district are feeling the impact of Russia's invasion of Ukraine as customers in Moscow and Kyiv have canceled $200 million in orders in the past week, industry officials say, Reuters reported. The loss of trade adds to strains on Turkey's economy, with officials estimating that more than $1 billion is directly at risk to the textile industry alone if the conflict in Ukraine continues.

High energy prices are forcing some manufacturers to halt production in a foretaste of what may become a more widespread shutdown that if the war in Ukraine leads to acute shortages of natural gas, Bloomberg News reported. A survey by Make UK, the manufacturing industry group, found that 17% of companies have had to “temporarily halt production of products that are energy intensive to fabricate” this year. Gas prices have risen 59-fold since May 2020, and oil prices are at a seven year high, making it increasingly costly for factories to maintain output.

Germany has earmarked 200 billion euros ($220 billion) to fund industrial transformation between now and 2026, including climate protection, hydrogen technology and expansion of the electric vehicle charging network, its finance minister said, Reuters reported. "200 billion euros in funding for the transformation of the economy, society and the state," Christian Lindner told public broadcaster ARD on Sunday, adding that this also included the removal of renewable energy levies.

Bonds issued by the Ukrainian government hit new lows Wednesday despite assurances from foreign governments and global institutions that they would continue to buttress Ukraine’s wartime finances, WSJ Pro Bankruptcy reported. On Wednesday, a Ukrainian government bond coming due in September was quoted between 36 and 40 cents on the dollar, down from 65 cents on Friday, according to data from FactSet. A 2033 bond was quoted between 23 to 26 cents on the dollar Wednesday, down from 45 cents Friday.

Ukraine's central bank decided to postpone a review of its main interest rate and keep it unchanged at 10.0% on Thursday in an effort to maintain financial stability and the smooth operation of the banking system amid the Russian invasion, Reuters reported. It said the bank remained committed to its inflation targeting regime but in the current conditions, with forced administrative restrictions in place, market-based monetary instruments such as the key policy rate no longer play a significant role. "With this in mind, the central bank has postponed its key policy rate decision.

Swiss-based Russian gas pipeline operator Nord Stream 2 AG said yesterday that it has not filed for insolvency, Reuters reported. "We do not confirm the media reports that Nord Stream 2 has filed for bankruptcy. The company only informed the local authorities that the company had to terminate contracts with employees following the imposition of U.S. sanctions on the company," Nord Stream 2 AG said in emailed comments.