Russia allows some more financial market operations

22 Mar, 2022 - 00:03 0 Views
Russia allows some more financial market operations Russian Rubie Coin Vs US Dollar (Photo Credit: Reuters)

The Chronicle

Russia’s central bank has allowed a limited number of additional financial market operations over the next two weeks, as it tentatively eases restrictions linked to the Ukraine conflict.

Stocks and bonds last traded on the Moscow Exchange on February 25, the day after Russia invaded Ukraine, after which the central bank curbed trading as Western sanctions threw markets into turmoil.

It allowed rouble trading to continue, with the currency slumping to record lows against the dollar and Euro. On Friday the central bank said trading in OFZ government bonds would restart on Monday.

It is yet to say when trading in instruments like stocks can resume, as it looks for ways to clear a backlog of transactions while avoiding a market collapse.

On Saturday the Moscow Exchange said in a statement that the central bank had issued a permit allowing additional operations from March 21 to April 1, “to reduce liabilities arising from transactions made before Feb. 28, 2022, on the Moscow Exchange in the interests of non-residents, who are entities of foreign states engaged in unfriendly actions.” — Reuters

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