"Moscow Exchange (MOEX) To Halt USD And Euro Trading As Of June 13" - Meduza
Portfolio Pulse from Benzinga Newsdesk
The Moscow Exchange (MOEX) will halt trading in the U.S. dollar and euro starting June 13, following new U.S. financial sanctions against Russia. The sanctions also target the National Clearing Center and the National Settlement Depository. Russia's Central Bank will continue USD and euro transactions on the OTC market. The SPB Exchange, already sanctioned in November 2023, specializes in trading foreign shares, making trading American and European securities difficult in Russia.
June 12, 2024 | 5:16 pm
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NEGATIVE IMPACT
The halt of USD and Euro trading on the Moscow Exchange (MOEX) due to new U.S. sanctions could lead to increased volatility in global markets, potentially impacting SPY.
The halt in trading of major currencies on MOEX could lead to increased market volatility, affecting global indices like SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
The new U.S. sanctions on Russia, including the halt of USD and Euro trading on MOEX, could affect European markets and ETFs like VGK.
The halt in trading of major currencies on MOEX due to U.S. sanctions could lead to increased volatility in European markets, impacting ETFs like VGK.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50