The Kazakh Stock Exchange stated that US sanctions against the Moscow Stock Exchange will not affect its operation. Since the share of the Russian site in the capital of KASE is not large enough.
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The risk of application of blocking sanctions applies to persons whose 50% or more shares are controlled directly or indirectly by a person on the sanctions list. As of June 1, 2024, the Moscow Stock Exchange holds 13.1% of KASE’s outstanding shares.
The Kazakh Stock Exchange continues to operate normally. Trading, clearing and settlements will continue to be carried out in accordance with standard rules, the site said in a statement.
KASE also announced that it would consider continuing business relations with the Moscow Stock Exchange, taking into account sanctions restrictions.
On June 12, the Moscow Stock Exchange and NCC were subject to blocking sanctions by the United States. Subsequently, the site announced the suspension of trading in US dollars and euros, as well as instruments with settlement in these currencies in the stock market, the money market and the standardized derivatives market (SDFI). Subsequently, the Central Bank decided to suspend trading in the Hong Kong dollar.
- In December 2023, Kazakh crypto exchange ATAIX Eurasia decided to stop providing services to Russians due to EU sanctions. The restriction affects not only holders of Russian passports, but also people living on the territory of the Russian Federation. Services have also ceased to be provided to legal entities registered in Russia.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
