MOSCOW, December 25. /TASS/. The Bank of Russia is confident that the St. Petersburg (SPB) Exchange, which has come under sanctions, will adjust to the situation and continue to operate, head of the regulator, Elvira Nabiullina, said in an interview with RBC.

"We have a lot of financial institutions that already came under sanctions, rather large ones. And you can see that almost all of them have adjusted, changed their business models, and are developing. I am sure that the St. Petersburg Exchange will not be an exception. They are already thinking about new services, new products. It has both high-tech infrastructure and professional competencies. Therefore, I am not even worried about it," Nabiullina said.

US sanctions administrator OFAC imposed sanctions on SPB Exchange on November 2, after which the exchange’s foreign counterparties suspended working with the trading venue so as to avoid any liability for violating the US sanctions regime, including secondary sanctions. All foreign counterparties, including partners from Russia-friendly jurisdictions, must take such sanctions risks into account.