The Russian Central Bank announces the closure of the Moscow Stock Exchange

The Russian Central Bank announced that the Moscow Stock Exchange will remain closed on Monday.

The bank stated that, in light of the current conditions, trading will be suspended, adding that it will decide tomorrow, Tuesday, when trading will resume.

The bank had announced earlier today a ban on securities dealers preventing the sale of Russian securities owned by foreigners.

The bank also announced the support of local financial institutions by injecting capital and foreign currency transactions.

And when it reopens, the Moscow Stock Exchange is likely to witness turmoil against the backdrop of economic sanctions imposed by Western countries on Russia after the attack on Ukraine.

And last week - that is, before the tightening of sanctions - the Russian stock exchange "RTS" index fell by a third.

European Union sanctions against the Russian Central Bank went into effect Sunday night.

These sanctions are considered highly effective, similar to the soon planned exclusion of some Russian financial institutions from the SWIFT banking communications network.

The Russian Central Bank had already pledged support to local banks on Sunday in light of the imminent exclusion from the "Soviet".

The bank said yesterday that there is enough capital and liquidity to operate without interruption in any circumstances.

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