Moodys Cuts Russia Credit Rating

Japan's Topix index experienced its largest increase in over a year due to a boost in domestic equity holdings by the nation's pension fund, following a three-week decline. Concurrently, two Japanese ministers resigned amid misconduct allegations. In London, home sellers raised asking prices significantly, marking a 7% increase from September. Meanwhile, Moody's downgraded Russia's credit rating due to slow growth and reserve erosion, as sanctions over Ukraine continued to impact the economy. Russia's foreign minister rejected conditions to lift the sanctions after unsuccessful talks in Italy.

What factors contributed to the downgrade of Russia's credit rating by Moody's?

What was the outcome of the talks in Italy regarding the sanctions on Russia?