The Moscow Stock Exchange, Russia’s largest securities exchange, announced on the 13th local time that it will suspend trading in US dollars and euros.
The Moscow Exchange stated in a statement posted on its official website that all stocks, bonds, and over-the-counter derivative transactions settled in US dollars and euros will be halted.
The Central Bank of Russia explained that over-the-counter trading in US dollars and euros will not be affected.
These measures come shortly after the United States announced new sanctions to block the flow of funds and goods that Russia needs to conduct its war in Ukraine.
As a result, banks and companies will no longer be able to trade dollars and euros through the central exchange and will have to engage in over-the-counter trading directly between parties.