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Moscow Exchange delays access for non-residents from 'friendly' countries

Stock Markets Aug 05, 2022 03:41PM ET
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© Reuters. FILE PHOTO: A board with the logo is on display outside the office of the Moscow Exchange in the capital city of Moscow, Russia March 24, 2022. REUTERS/Maxim Shemetov

(Reuters) - The Moscow Exchange on Friday said it would not be able to meet a promise to allow access to its stock market next week to clients from "friendly" jurisdictions, those which have not deployed sanctions against Russia.

In July, the exchange said non-residents from countries that have not imposed sanctions would be permitted to trade on its stock and derivatives markets from Aug. 8.

But in a statement issued late on Friday, the exchange said it needed more time to prepare for access to the stock market.

It cited a decree signed earlier in the day by President Vladimir Putin, which banned investors from so-called unfriendly countries from selling shares in key energy projects and banks until the end of the year.

Non-resident investors from friendly nations should be able to trade on the derivatives market from Aug. 8, it added.

Moscow Exchange delays access for non-residents from 'friendly' countries
 

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Brad Albright
Brad Albright Aug 05, 2022 5:20PM ET
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