The Moscow Exchange said Tuesday that trading in the Swiss franc against the rouble and the US dollar will be suspended, following Switzerland's adoption of fresh EU sanctions against Russia.
Russia's largest stock exchange said it was experiencing trouble processing transactions in Swiss francs due to new trading restrictions imposed by Switzerland last week, Reuters stated.
“The suspension of operations is due to difficulties conducting settlements in Swiss francs faced by market participants and the financial sector in connection with the restrictive measures imposed by Switzerland on June 10,” the Moscow Exchange said in a statement.
The Federal Council announced last Friday that Switzerland has implemented fresh EU measures on Belarus and Russia and travel bans against 100 more individuals and businesses.
Moscow Exchange said it was looking for a solution and intended to resume trading in Swiss francs in the future.
Picture Credits: Reuters
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