Some Western investors are still exploring ways to buy and sell shares in Russian businesses that have become practically untouchable due to sanctions, as seen by a few attempts to privately trade VTB and Gazprom depositary receipts.
Following Moscow’s invasion of Ukraine in March, Europe, the US, and Canada banned certain banks’ access to the SWIFT international payment system, causing investors to flee Russia.
In retaliation, Moscow banned Russian brokers from selling securities held by foreigners to foreign investors and barred foreign investors from buying Russian assets.
The Financial Conduct Authority says it cannot comment on individual instances of trading in Russian stocks.
European Union sanctions against Moscow have left many investors fretting for the future of their assets.
The LSE halted trading in all Russian depositary receipts through the exchange as of March 4.
This report’s information was first seen on Reuters; to read more, click this link.