Today’s news / New round of US sanctions to hit Moscow Exchange and beyond
A man walks out of the stock exchange in Moscow. (Archive photo). Photo: Natalia Kolesnikova/Ritzau Scanpix

New round of US sanctions to hit Moscow Exchange and beyond

The US has targeted over 300 new entities with sanctions, including the Moscow Exchange, as announced by the US Treasury Department. These sanctions affect companies and legal entities in Russia, China, Turkey, and the UAE. Described as a ‘dramatic expansion’ by Reuters, the sanctions also hit Chinese firms selling semiconductors to Russia. Due to these sanctions, trading in euros and dollars on Moscow’s stock exchange has been halted. Despite this, the Russian Central Bank reassures that funds in these currencies are secure. The US aims to impede multi-million dollar transactions and target entities involved in gas projects. Janet Yellen emphasizes increasing the financial risks for those dealing with Russia’s military economy and reducing Russia’s access to foreign technology and services. Concern continues over China-Russia trade benefiting the Russian war effort. Russia has vowed retaliation for the US sanctions.