UK to revoke Moscow Stock Exchange’s recognized status

ANKARA

The UK said on Tuesday it plans to revoke the Moscow Stock Exchange’s (MOEX) status as a recognized stock exchange.

The move is part of ongoing efforts by the UK, US and other Western allies to increase pressure on Russia to end its war on Ukraine.

It will remove certain tax benefits for investors but “existing investments will be protected,” read a government statement.

“As we continue to isolate Russia in response to their illegal war on Ukraine, revoking Moscow Stock Exchange’s recognized status sends a clear message – there is no case for new investments in Russia,” said Lucy Frazer, financial secretary to the treasury.​​​​​​​