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Written question asked by Drew Hendry (Scottish National Party) on Thursday, 31 March 2022, in the House of Commons. It was due for an answer on Tuesday, 19 April 2022 (named day). It was answered by James Cleverly (Conservative) on Tuesday, 19 April 2022 on behalf of the Foreign, Commonwealth and Development Office.

Overseas Investment: Russia

Question

To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the potential merits of sanctioning the Moscow Stock Exchange by preventing the purchase of stocks on the Moscow Exchange by individuals from the UK.

Answer

The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022 which came into force on the 1st of March prevents all UK persons from buying new issuances of Russian stocks, regardless of which market they are listed on and any new issuances of Russian Sovereign Debt.

With our allies we have introduced the most significant economic sanctions that Russia has ever faced and they are having an impact. The Moscow Stock Exchange was closed for an unprecedented 4 weeks from 25th February to 24th March. It has been partially re-opened but restrictions remain on activities, particularly for foreign participants. The stock exchange remains more than 20% lower than in mid-February.

Secondary information

Type
Written question
Reference
151185
Session
2021-22
Transferred
Yes
Subjects
Overseas investment Stocks and shares Sanctions Russia
Link
View this Written question on www.parliament.uk