Russia’s stock market to remain closed for another week, Business & Economy News

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The Moscow stock exchange is unlikely to reopen next week, marking the third week in a row that it has been closed due to sanctions imposed on Russia following its invasion of Ukraine.

The Russian stock market will be closed this week, March 14-18, according to the country’s central bank.

According to Reuters, the central bank stated that the foreign exchange market, money market, and repo market will all open at 0700 GMT on certain days.

The Moscow Exchange will not open, except for some non-open-market transactions utilising the SPFI payment system, according to a statement on the central bank’s website.

Bloomberg reported that the central bank stated it would make a judgement later on trade from March 21 to 25.

Following Russia’s invasion of Ukraine and the application of sanctions by the European Union, the United States, and other countries, stock trading on the Moscow Exchange has been suspended since February 25. 

(With inputs from agencies)

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