People stand in line at the currency exchange office, under an electronic panel with rates of ruble to U.S. dollar and euro, April 4, 2024 in Moscow, Russia.
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New U.S. sanctions against Russia will shut down trading in dollars and euros on its leading financial marketplace, the Moscow Exchange, the bourse and the central bank said on Wednesday.
“Due to the introduction of restrictive measures by the United States against the Moscow Exchange Group, exchange trading and settlements of deliverable instruments in U.S. dollars and euros are suspended,” the central bank said.
It added that it would use over-the-counter trading data to set official exchange rates for the dollar and euro.
The bank rushed out a statement, despite a public holiday in Russia, to reassure people that their dollar and euro bank deposits were secure.
“Companies and individuals can continue to buy and sell U.S. dollars and euros through Russian banks. All funds in U.S. dollars and euros in the accounts and deposits of citizens and companies remain safe,” it said.
The Moscow Exchange, Russia’s biggest bourse, also said share trading and money market trades settled in dollars and euros would cease.