US sanctions force Moscow Exchange to halt US dollar, euro trading

RUSSIA’S main exchange said it is halting trading in US dollars and the euro after President Joe Biden’s administration unveiled a raft of measures designed to further isolate Moscow from the international financial system over its war in Ukraine.

The Moscow Exchange from Thursday (Jun 13) halted trading on the foreign exchange, precious metals, stock, money and the standardised over-the-counter derivatives markets in instruments with settlement in US dollars and the European single currency. The company, known as Moex, was targeted along with the country’s main settlement depository, by US restrictions announced late on Wednesday.

The MOEX Russia Index opened down as much as 4 per cent in Moscow on Thursday.

Source: THE BUSINESS TIMES