American bank JPMorgan Chase & Co. will exclude all Russian corporate and sovereign bonds from its bond indices on March 31.

This measure will also affect Belarusian bonds.

Russian and Belarusian bonds will be excluded from the Emerging Market Bond Index, the Corporate Emerging Market Bond Index, and ESG indices, the bank said in a statement.

JPMorgan indices monitor corporate and sovereign bonds worth more than $840 billion, according to Business Insider. Russian securities account for 1.03% of these.

The main rating agencies have lowered Russian debt ratings to close to default. S&P Global Ratings lowered Russia's sovereign credit rating to 'CCC', Fitch has lowered it to 'C' and Moody's has changed it to 'Ca'.