Trading in Russian stocks and bonds on global markets has ground to a near-standstill over the past week as traders grapple with the impact of a barrage of financial sanctions on Russian companies and individuals, and countermeasures from Moscow.
The Russian central bank has suspended stock and derivatives trading in Moscow this week while authorities have also temporarily barred foreign investors from selling their Russian assets. Even so, London had continued to trade Russian names and the value of many stocks such as Sberbank and Gazprom have plummeted. Traders said attempts to unwind clients’ positions in Russian stocks - as demanded in some sanctions - were hobbled by brokers not wanting to trade Russian names., chief executive of the LSE Group. “We are highly engaged with the regulators and other authorities in terms of making sure that we are complying with the sanctions and doing everything we can to be helpful.
He also defended the decision to keep the trading of Russian stocks on the LSE open up to now, pointing to US sanction demands that allow international investors three months to exit their Russia positions. A handful of Russian stocks are still active on the London market through depository receipts, including food retailer
Did you mean 'protect'? The suspension is designed to protect them
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