They will trade insignificance: an important status was taken away from the Moscow Exchange

The UK Revenue and Customs Administration (HMRC) has decided to deprive the Moscow Exchange of its status as a recognized one.

This was reported by the press service of the British government.

What does it mean

The decision to revoke the status of the Moscow Exchange came into force on May 5. This intention was reported in the UK even earlier – in April of this year.

For Russia, this means that investors will not be able to access certain UK tax incentives in the future if they trade securities on the Moscow Exchange.

However, investments made prior to the revocation of such status remain protected.

“Recognized Stock Exchange Status is a classification provided by HMRC for tax purposes to qualified stock exchanges. Securities traded on a recognized stock exchange are eligible for certain tax treatment and benefits,” the UK government said in a statement.

In addition, the UK no longer sees grounds for new investments in the Russian Federation.

Russian “Gazprom” leaves the Western exchanges

Earlier, Segodnya wrote that the Russian authorities banned Gazprom from placing depository receipts for the company’s securities on stock exchanges outside the country.

The company’s receipts will not be available on either the London Stock Exchange or Singapore. Owners can convert them into ordinary shares, only in this way they will be able to receive dividends.

We also said that the details of a new package of sanctions that are planned to be introduced against Russia were presented in the European Parliament. What is provided by this package of restrictions, read in our material.

how the Kremlin gas pipelines will die off, and what sanctions Poland has imposed against Gazprom.