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Abstract:The Moscow Exchange will ban the use of dollars as collateral to underwrite transactions, it said on Monday, as Russia seeks to cut dependence on currencies of nations that have imposed sanctions on it.
A statement posted on the exchanges website said the new policy would come into effect on Aug. 29. It gave no details.
Earlier this month the exchange – the countrys largest bourse – said it would limit the use of dollars as collateral to 25% from 50%.
Russian authorities have voiced concerns about individual and corporate holdings of currencies that it terms “unfriendly”, calling for their conversion into alternatives.
The United States and its allies have imposed several rounds of sanctions, including those targeting the countrys largest lenders and Putin, since Russian forces invaded Ukraine in February.
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Founded in 2011, G4 Markets has positioned itself as a comprehensive investment platform catering to a global audience. Operating under G4 Markets Ltd., an International Business Company (IBC) incorporated in Saint Vincent and The Grenadines, the broker claims to provide a wide array of trading instruments, including stocks, forex, cryptocurrencies, and copy trading.