The Moscow Stock Exchange recently made the decision to suspend trading in dollars and euros following the introduction of new sanctions by the United States. These measures were aimed at blocking the flow of capital in various sectors, including sovereign debt, public conglomerates, and defense companies. Despite efforts by Russian President Vladimir Putin to attract investments through the stock market from both Russians and non-Russians residing in “friendly countries,” the day the new sanctions took effect, the Moscow Stock Exchange experienced a decline of 3.5-4 percent, with the Moscow Stock Exchange company seeing a 15 percent drop.
The National Clearing Center and approximately 300 other entities, including those in countries like China, Turkey, and the United Arab Emirates, were also affected by these US sanctions. However, Russian individuals and companies can still buy and sell euros and dollars through intermediaries with assurances from the Russian Central Bank that foreign currency deposits will remain unaffected.
In addition to US sanctions, London has imposed a new package targeting 42 Russian entities, including the Moscow Stock Exchange, National Clearing Center
