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The Bank of Russia has banned Russian brokers from selling securities on behalf of foreign clients, RBC reports citing two well-informed sources in the financial market. According to the agency, a copy of the order was published in several investment Telegram channels.
According to this document, “professional participants in the securities market engaged in brokerage activities” must, from 7 am on February 28, “and until the cancellation of this instruction, suspend the execution of all orders of clients – foreign legal entities and individuals for the sale of securities.” Also, brokers must report to the Central Bank on the suspension of operations, according to a document signed by the deputy chairman of the regulator Philip Gabunia.
The restrictions are introduced after Western countries agreed to impose sanctions on the Bank of Russia itself. It is planned to freeze the currency assets of the Central Bank abroad and prohibit any transactions with it.
On February 24, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.”
In response to Russia’s actions, Western countries (USA, Canada, European Union, Great Britain, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.
You can follow the chronicle of events around Ukraine on February 28 here.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
