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Russia’s SBP Exchange suspends trading in foreign securities for at least seven days

The reason for this decision was the implementation of compliance procedures

© Mikhail Tereshchenko/TASS

MOSCOW, November 6. /TASS/. Russia’s Saint Petersburg (SPB) Stock Exchange has suspended trading in foreign securities for compliance procedures, which will take at least seven working days, according to a statement.

The US Treasury Department's Office of Foreign Assets Control (OFAC) blacklisted the SBP Exchange on November 2.

"The SPB Exchange is in contact with Russian and foreign counterparties to establish a framework, given the current situation. We expect that consultations will take at least seven working days," the statement reads.

According to the SPB Exchange, the outcome of compliance procedures will be announced immediately.

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