New York TimesNEW DELHI: Moscow Stock Exchange on Thursday suspended trading amid Ukraine-Russia tensions.
In a short release on its website, the exchange said: "Moscow Exchange has suspended trading on all of its markets until further notice."
The trading in stocks did not take place on Wednesday on account of Defender of the Fatherland Day 2022. In a release the exchange had said: "On February 23 and 8 March 2022, all securities not traded on that day will have their standard indicators – including closing price, admitted quote and market prices – calculated and disclosed in accordance with current methodologies."
This comes in the backdrop of a recent sharp fall in Russian stocks after a host of countries imposed sanctions, which largely targetted Russian banks, its debt markets and rich Russian individuals.
The US said it was broadening its restrictions on trading Russian government debt. Britain slapped sanctions on five Russian banks and three billionaires. Japan announced prohibiting the issuance of Russian bonds in Japan and freezing the assets of certain Russian individuals.
Germany also announced it was halting certification of the Nord Stream 2 gas pipeline from Russia. It was believed that the fresh Russian move to support Russian-backed separatists militarily and considering the two Ukrainian regions as independent would attract more sanctions.
It is seen hitting the third largest country that exports about 5 million barrels per day of crude oil, more than half of which goes to Europe and 42 per cent to Asia.
India does not buy even 1 per cent of Russian crude oil exports, as most Indian refineries cannot process the heavy crudes that Russia exports. Besides, the lack of pipelines between the two countries means transportation cost is high. This is even as Russia is a close Indian partner in the defence sector.
In a short release on its website, the exchange said: "Moscow Exchange has suspended trading on all of its markets until further notice."
The trading in stocks did not take place on Wednesday on account of Defender of the Fatherland Day 2022. In a release the exchange had said: "On February 23 and 8 March 2022, all securities not traded on that day will have their standard indicators – including closing price, admitted quote and market prices – calculated and disclosed in accordance with current methodologies."
This comes in the backdrop of a recent sharp fall in Russian stocks after a host of countries imposed sanctions, which largely targetted Russian banks, its debt markets and rich Russian individuals.
The US said it was broadening its restrictions on trading Russian government debt. Britain slapped sanctions on five Russian banks and three billionaires. Japan announced prohibiting the issuance of Russian bonds in Japan and freezing the assets of certain Russian individuals.
Germany also announced it was halting certification of the Nord Stream 2 gas pipeline from Russia. It was believed that the fresh Russian move to support Russian-backed separatists militarily and considering the two Ukrainian regions as independent would attract more sanctions.
It is seen hitting the third largest country that exports about 5 million barrels per day of crude oil, more than half of which goes to Europe and 42 per cent to Asia.
India does not buy even 1 per cent of Russian crude oil exports, as most Indian refineries cannot process the heavy crudes that Russia exports. Besides, the lack of pipelines between the two countries means transportation cost is high. This is even as Russia is a close Indian partner in the defence sector.
Pick the best companies to invest
BECOME AN ETPRIME MEMBERRead More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Pick the best stocks for yourself
Powered by