Russia has ordered a stop on trading with dollars and euros at the Moscow exchange after the U.S. implemented new sanctions against Russia over its war in Ukraine.
This was confirmed in a joint statement released by the Russian Central Bank, the Moscow Exchange, and the bourse on Wednesday.
In the joint statement, the Russian financial institution said the move was imperative following the “introduction of restrictive measures by the United States against the Moscow Exchange Group, exchange trading and settlements of deliverable instruments in U.S. dollars and euros are suspended.”
Russia’s central bank said it would implement over-the-counter trading data to set official exchange rates for the dollar and euro.
The Russian CBN urged companies and individuals to continue buying and selling dollars and euros through Russian banks saying all foreign currencies in their accounts would remain safe.