Russia bans foreigners from selling local securities

Russia central bank

Russia’s central bank has imposed a ban on foreigners from selling local securities and pushed back exchanging on the significant number of the nation’s trades fully expecting a total implosion on monetary business sectors following crushing western authorizations.

The announcement was made Monday, February 28, 2022.

The rouble fell 28 percent in offshore trading on Monday as investors prepared for a market crash following US and EU sanctions that restricted the central bank’s ability to spend its foreign exchange reserves to support the Russian currency.

Bloomberg data indicates that the rouble has dropped to almost 118 against the US dollar after Vladimir Putin commanded his nuclear forces on high alert.

Notwithstanding the temporary freeze on deals on the Moscow Exchange, the national bank said the money and repo markets would open three hours late at 10 a.m. nearby time, while it will evaluate whether to open different business sectors later. On the off chance that a choice to open is made, it will be at 3 p.m.

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