Citizens and companies can continue to buy and sell dollars and euros through Russian banks , despite the new US sanctions, according to a message on the website of the Bank of Russia.
Back in 2022, the regulator announced the development with market participants of scenarios for calculating the exchange rate of the dollar and the euro in the event of a suspension of trading on the stock exchange. Thus, to determine the exchange rates of the dollar and the euro against the ruble, the Central Bank will use bank statements and incoming information from OTC trading.
The regulator also emphasized that all savings in foreign currency in accounts and deposits of citizens and companies remain safe. In addition, for deposits and accounts in dollars and euros, the previous regime for issuing funds, established by the Central Bank, is preserved.
Previously, the US Treasury Department imposed sanctions against the Moscow Stock Exchange. The National Settlement Depository (NSD) and the National Clearing Center (NCC) (part of the Moscow Stock Exchange group) are also included in the sanctions list. In connection with the sanctions, the Moscow Stock Exchange announced that from June 13 it will not trade in dollars and euros. In the stock and money market, the Standardized Derivative Financial Instruments (SDFI) market, trading will take place in all instruments, except for US dollar and euro settled instruments.