(Bloomberg) -- VanEck is liquidating two Russia exchange-traded funds nearly a year into Vladimir Putin’s invasion of Ukraine. 

The issuer is closing the VanEck Russia ETF (ticker RSX) and the VanEck Russia Small-Cap ETF (RSXJ), it said in a release Thursday. Trading in the funds and others like them had ceased following Russia’s brutal invasion of its neighbor, which started in February. The US and its European allies, among others, instituted harsh sanctions against Russia in the wake of the war. 

“The effect of geopolitical affairs and sanctions imposed by the United States and other countries on transactions in Russian equities, and on related clearance and payment systems, have rendered a substantial number of the funds’ positions illiquid, including many depositary receipts,” VanEck said in the release. The inability to buy, sell and make or take delivery of Russian securities made it impossible to manage their investment objectives, the company added. VanEck says the liquidation of RSX and RSXJ could take a long time if the situation with Russian markets doesn’t improve.

Stocks linked to Russia plunged following the outbreak of war and subsequent economic punishment meted out to the country. But many asset managers also steered clear of Russian-linked investments due to reputational concerns.

Separately, Franklin Templeton said last week that the firm was liquidating its Franklin FTSE Russia ETF (FLRU).

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