Moscow stops trading in “dollars and euros” on its stock exchange

Moscow stops trading in “dollars and euros” on its stock exchange


Moscow stops trading in dollars and euros on its stock exchangeThe Moscow Stock Exchange announced the cessation of trading in the dollar and euro currencies as of June 13, stressing that there will be no trading in financial instruments with settlements in these currencies in the stock and financial markets.

The stock exchange said in a statement: “Regarding trading in the Moscow Stock Exchange markets: In connection with the introduction of restrictive measures by the United States against the Moscow Stock Exchange Group, as of June 13, 2024, trading in the Moscow Stock Exchange markets will be carried out in accordance with current regulations: on the foreign exchange market and the Moscow Stock Exchange market. Precious metals, trading is carried out according to all instruments, except currency pairs with the US dollar and the euro.

The statement added: “In the stock and money markets, and the unified derivative financial instruments market, trading takes place on all instruments, except for instruments that have settlements in US dollars and euros; in the derivatives market, trades are conducted as usual.”

The Central Bank of the Russian Federation explained that companies and citizens can continue to buy and sell the US dollar and the euro through Russian banks, stressing that all funds in dollars and euros in the accounts and deposits of citizens and companies will remain safe, and transactions will continue to be conducted in the market outside the stock exchange.

The United States imposed sanctions on Russian financial infrastructure, including the Moscow Stock Exchange, the National Clearing Center, the National Settlement Depository, the Russian National Reinsurance Corporation and the Sogaz insurance company.

“A number of organizations have been included in the sanctions list against Russia, which is referred to as the Russian Financial Infrastructure,” the US Treasury Department said in a statement.