The Moscow Exchange (MOEX) suspends trading in dollars and euros in response to latest sanctions

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In response to the latest U.S. sanctions, the Moscow Exchange (MOEX) has suspended trading in dollars and euros. This decision affects exchange trading and settlements of deliverable instruments in U.S. dollars and euros. However, individuals and companies can still buy and sell U.S. dollars and euros through Russian banks, and existing funds in these currencies remain secure.

  • Suspension of Trading: The Moscow Exchange (MOEX) has temporarily suspended trading in U.S. dollars and euros. This decision affects exchange trading and settlements of deliverable instruments denominated in these currencies.
  • Sanctions Context: The suspension comes as a response to the latest U.S. sanctions imposed on Russia. These sanctions have escalated tensions and impacted financial markets.
  • Exceptions: While trading on the MOEX is suspended, individuals and companies can still buy and sell U.S. dollars and euros through Russian banks. Existing funds in these currencies remain secure.
  • Market Impact: The suspension may have implications for investors, businesses, and currency exchange operations. Market participants are closely monitoring developments.
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Sources:

https://invezz.com/news/2024/06/12/moscow-exchange-to-halt-dollar-and-euro-trading-amid-new-us-sanctions/
https://money.usnews.com/investing/news/articles/2024-06-12/moscow-exchange-to-stop-trading-in-dollars-after-latest-us-sanctions

https://www.rt.com/business/599188-euro-dollar-suspense/






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h/t RundaPlazan