U.K. to Revoke Moscow Stock Exchange Recognition in New Sanction
The Kremlin is seen through a window from the offices of the Moscow Exchange.
Source: Bloomberg
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The U.K.’s tax authority plans to stop its recognition of the Moscow Stock Exchange, underscoring Russia’s increasing isolation from global financial markets following its invasion of Ukraine.
The move means investors won’t be able to access certain U.K. tax benefits when trading securities on the Moscow bourse, although existing investments will be protected, HM Revenue and Customs said in a statement Tuesday. Revoking the status will limit access to some U.K. tax reliefs such as an exemption from withholding tax on some bonds.