After months of suspension since Russia waged war on Ukraine, the Moscow Exchange announced partial reopening to foreign investors from “countries that are not hostile.”
According to the Moscow Exchange, it would reopen its bond market on Monday to “non-resident clients from countries that are not hostile, as well as non-residents whose ultimate beneficiaries are Russian legal entities or individuals.”
The Moscow Exchange added that investment management companies, brokers, and banks had started registering their foreign clients with the exchange.
Reports said China and Turkey would be allowed to trade since they did not impose any sanctions against Russia.
Reports also said the resumption of trading on Monday would exclude investors from “hostile” countries, who remain banned from selling Russian securities, such as members of the European Union, Canada, and Japan – all three accounted for 90% of investments into Russia last year.
In February, Russia closed its stock and bonds markets to prevent money from leaving the country after Putin sent thousands of troops into Ukraine.
In March, it began a phased re-opening limited to bonds from the Russian government.
© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.