Currencies
US Sanctions Force Moscow Exchange to Halt Dollar, Euro Trading
- Biden administration expands restrictions amid war in Ukraine
- Russian central bank says accounts, deposits to remain safe
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Russia’s main exchange said it’s halting trading in US dollars and the euro after President Joe Biden’s administration unveiled a raft of measures designed to further isolate Moscow from the international financial system over its war in Ukraine.
The Moscow Exchange from Thursday halted trading on the foreign exchange, precious metals, stock, money and the standardized over-the-counter derivatives markets in instruments with settlement in dollars and the European single currency. The company, known as Moex, was targeted along with the country’s main settlement depository, by US restrictions announced late Wednesday.