Yuan trading on Moscow Exchange to continue despite OFAC license expiration
Earlier, OFAC added the Moscow Exchange to its blocking list, as well as the National Settlement Depository and the National Clearing Center
MOSCOW, July 4. /TASS/. Trading in the Chinese yuan on the Moscow Exchange will continue despite the expiration of the OFAC (a division of the US Treasury Department) license in August, Deputy Chairman of the Bank of Russia Philipp Gabunia told reporters.
"It won't stop. <…> The yuan will be traded on the Moscow Exchange," he said.
Earlier, OFAC added the Moscow Exchange to its blocking list, as well as the National Settlement Depository and the National Clearing Center. The agency also issued a license to wind down operations with the listed companies until August 13.
He added that there is also no risk of stopping trading in dollar and euro futures. "They are calculated, they are not tied to any restrictions that apply to the Moscow Exchange from other states," Gabunia explained.
Earlier, First Deputy Chairman of the Central Bank Vladimir Chistyukhin said that "everything will be done" to ensure that the use of the Chinese yuan in payments and as a means of investment will continue.