Russia’s central bank closed the country’s stock exchange for a second day Tuesday as it tried to limit the carnage in financial markets following tough Western sanctions.
Strategists warned Russia is becoming increasingly “uninvestable”, with huge amounts of its assets frozen, and with global financial institutions and companies scrambling to cut ties with the country.
The Bank of Russia said Tuesday that trading on the Moscow exchange would remain closed after it cancelled trading on Monday. It said a decision on whether to start trading will be made by 9 a.m. local time Wednesday.
A ban on trading is one of a number of measures the central bank has put in place to try to limit the damage of tough new sanctions directed at the country, put in place after Russia’s invasion of Ukraine.
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