Russia has kept its stock market closed for three weeks as officials sought to avoid a market death spiral due to a sell-off and heavily inflated currency.
"In my view, many movers and shakers in the market have already factored in these parameters over the past week to manage their exposure to the Russian market, but markets around the world, particularly Europe, Asia and the U.S., will undergo an adjustment period," Anthony Kim, a research fellow in economic freedom at the Heritage Foundation, told FOX Business.
"There will be some immediate negative ripple effects, but markets such as ours and other sizable ones in Europe and Asia will make relatively smooth transitions," Kim said. "The Russian economy will have more of the intended impact of all the sanctions we have put in place," he added.
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