Moscow Exchange (MOEX), Russia’s largest exchange group, announced on the 24th that it has suspended trading in all markets until further notice.
On the 24th local time, Putin said in an emergency televised speech on the situation in Ukraine that he had decided to conduct a special military operation in the Donbas region. Putin said that the development of the situation in Ukraine has made Russia unable to obtain security guarantees, and called on the Russian armed forces to resolutely fight back against acts that threaten Russia.
European Commission President Von der Leyen said last week: “Russia will, in principle, be cut off from international financial markets, the goods produced in Europe that Russia desperately needs to modernize and diversify its economy will be on the sanctions list, we are globally dominant, and There is no replacement.”
She also said sanctions would only be imposed after actual military action took place, and she rejected a call by Ukraine’s president on Saturday for immediate sanctions against Russia.
For Russia’s entire financial services industry, completely cutting off finance from the rest of the world would undoubtedly be the fatal blow.