FILE PHOTO: A board with the logo is on display outside the office of the Moscow Exchange in the capital city of Moscow, Russia March 24, 2022. REUTERS/Maxim Shemetov
(Reuters) – The Moscow Exchange on Friday said it would not be able to meet a promise to allow access to its stock market next week to clients from “friendly” jurisdictions, those which have not deployed sanctions against Russia.
In July, the exchange said non-residents from countries that have not imposed sanctions would be permitted to trade on its stock and derivatives markets from Aug. 8.
But in a statement issued late on Friday, the exchange said it needed more time to prepare for access to the stock market.
It cited a decree signed earlier in the day by President Vladimir Putin, which banned investors from so-called unfriendly countries from selling shares in key energy projects and banks until the end of the year.
Non-resident investors from friendly nations should be able to trade on the derivatives market from Aug. 8, it added.