The Moscow Exchange has announced its readiness to possibly stop trading in dollar and euro currencies in the event of US sanctions being imposed on the trading platform. This was announced by exchange representative Igor Marich during a briefing, as quoted by RBC Investments.

Maric noted that this is not the first time that the possibility of such sanctions has been discussed, and the exchange has taken all the necessary steps to prepare market participants for such a development. Work was carried out with the market aimed at managing risks, including sanctions risks, so that trading participants were informed about how the exchange would act in a situation where sanctions were imposed.

The exchange representative also noted that the role of the dollar in the market is no longer as significant as before. He pointed out that many market participants no longer have accounts in dollars, and the share of the dollar in servicing foreign trade transactions and in the financial market has decreased significantly. In the event of sanctions, currency pricing can be determined on the basis of both exchange and over-the-counter transactions.

“We hope that market participants have an understanding. We ourselves pay great attention to risk management, including sanctions. Few people have bills left. But in general, the share of dollars in servicing foreign trade operations and in the financial market, in the foreign exchange market is fundamentally smaller.”, said Maric.

However, experts note that the introduction of sanctions against the Moscow Exchange will have a critical impact on the ruble exchange rate, especially given its instability in recent days.