The Moscow Stock Exchange postponed the opening of trading on the stock market for non-residents of “friendly” countries and explained this by Putin’s decree. The stock market was scheduled to open on August 8, but on this day non-residents will be able to trade only in the derivatives market.
The postponement of the start of trading is indicated in the message of the Moscow Stock Exchange.
“In connection with the Decree of the President of the Russian Federation No. 520 of August 5, 2022, additional configuration of exchange systems is required to provide access to non-resident clients to the stock market,” explained the Stock Exchange. Moscow. The site will announce the trading start date later.
We are talking about a decree that Vladimir Putin signed on August 5. According to the document, until the end of 2022, citizens of “unfriendly” countries were prohibited from selling and buying shares in strategically important Russian companies, including banks (the list will be approved within ten days from the date of signing the document). decree).
As of August 8, non-residents of “friendly” countries will be able to trade in the derivatives market. The market will also be opened to non-residents whose beneficial owners are Russian natural or legal persons.