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3 Nov, 2023 11:08

Sanctioned Russian stock exchange to resume trading

The St. Petersburg Exchange was included in the latest round of US restrictions
Sanctioned Russian stock exchange to resume trading

The St. Petersburg Exchange (SPB Exchange) announced the resumption of trading in a limited list of Russian securities on Friday. Trading in foreign stocks had been suspended on Thursday after being added to the US sanctions list.

According to a press release on the SPB Exchange’s website, trading will be launched at 14:00 Moscow time, allowing transactions involving the shares of 30 Russian companies.

On Thursday, the US Treasury Department imposed new sanctions on dozens of individuals and legal entities in Russia, including the SPB Exchange. The Russian financial institution then temporarily suspended transactions with all securities, and later said it would not conduct trading in foreign and Russian securities on November 3. The platform initially planned to resume transactions on Monday, November 6.

The SPB Exchange insisted in a statement that Washington-imposed sanctions would not affect client assets, adding that it would provide an update on further actions in the near future.

The SPB Exchange is Russia’s second-largest exchange, which specializes in trading foreign securities. According to its website, the institution provides investors from different countries with equal and easy access to international stock markets.

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