HomeWorldMoscow Stock Exchange will not carry out transactions in dollars

Moscow Stock Exchange will not carry out transactions in dollars

Russia announced extremely painful measures against the European Union

The Moscow Stock Exchange reported this Thursday that it has suspended all transactions in dollars and euros in response to the announcement of the imposition the previous day of new sanctions imposed on Russia by the United States.

“Due to the introduction of restrictive measures by the US against Moscow Exchange Group (MoEx), starting June 13, 2024, the markets of the Moscow Stock Exchange will operate (…) all instruments, except currency pairs with the dollar and the euro,” the financial entity announced in a statement.

With this action, both the currency and precious metals markets, as well as stocks and bonds, money and OTC derivatives, are affected.

The Moscow Stock Exchange stressed that “it has all the necessary tools to guarantee uninterrupted trading in a highly volatile environment.”

In turn, the Bank of Russia also reacted to the US measures by announcing that it had ceased all stock market transactions and settlements of instruments deliverable in US currency and euros.

Retaliation

In the same line of responses to the sanctions imposed by Western countries, the spokesperson for the Russian Ministry of Foreign Affairs, Maria Zajárova, assured during a briefing that “European goods and money in Russia, as you know, as they have As the representatives of our Government have said repeatedly, they are enough and the imminent retaliatory measures will be extremely painful for Brussels – headquarters of the European Union. So, first of all, they will have to pay for their follies out of their own pockets.”

His statement was offered after the líderes of the G7 (Germany, Canada, the United States, France, Italy, Japan and the United Kingdom, with the European Union as a de facto member) agreed to give Ukraine 50.000 billion dollars to finance its war against Russia, coming from a loan from USA.

These funds would be returned using interest earned on the more than $300.000 billion in frozen Russian assets.

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