Britain, following the US, imposed sanctions against the Moscow Exchange.

The NCC, NSD, Ingosstrakh, and Moscow Exchange CEO Yuri Denisov were also hit by sanctions . The day before, the US imposed sanctions against the exchange , which led to the cessation of DOLLAR and euro trading there.

The UK has imposed sanctions against the Moscow Exchange, the National Clearing Centre (NCC), and the National Settlement Depository (NSD), according to the sanctions document.

The reason for the sanctions is that the organizations were involved in benefiting the Russian government in strategically important areas of the economy.

The day before, on June 12, they were subject to US sanctions. Following this, the Moscow Exchange ceased trading dollars and euros, as EU countries comply with these sanctions. Trading in the Hong Kong dollar was also suspended, as it is pegged to the US dollar.

The following were also subject to British sanctions:

  • St. Petersburg Exchange;
  • Insurance company "Ingosstrakh"
  • HEAD of the Moscow Exchange Yuri Denisov;
  • "Murmansk LNG", "NOVATEK-Murmansk", "Rushimalliance";
  • Scientific Research Automobile Institute NAMI;
  • owner of S8 Capital Armen Sargsyan;
  • co-owner of the Astra group Denis Frolov;
  • former Minister of Agriculture of Chechnya and head of the Russian subsidiary of Danone, Yakub Zakriev, and others.

The St. Petersburg Exchange told RBC that UK sanctions will not affect the exchange's operations.

Following the imposition of US sanctions against the Moscow Exchange, the Central Bank announced that the restrictions "only change the trading structure" in the foreign exchange market and do not affect the volume of foreign currency exports or demand for it. The official ruble exchange rate will be set based on the over-the-counter market. Individuals and companies will be able to purchase foreign currency from banks.

The regulator added that in May, the share of yuan trading on the Moscow Exchange was 54%. The Central Bank believed that "the yuan/ruble exchange rate will set the trajectory for other currency pairs and become a benchmark for market participants."

Commenting on US sanctions against the Moscow Exchange, Presidential Press Secretary Dmitry Peskov noted that the Central Bank is capable of ensuring stability in all markets and that the Russian side is developing countermeasures "that will best serve our interests."

Read together with it: