Key Points
MOSCOW, Nov 10 (Reuters) - Russia's SPB Exchange, which specialises in trading foreign shares, has sought international legal advice on how to transfer shares and payments to investors after a trading halt last week due to U.S. sanctions, CEO Yevgeny Serdyukhov said on Friday...
The U.S. Treasury last week targeted SPB as part of sweeping new measures that also aim to curb Russia's future energy capabilities and sanctions evasion, which forced a halt in trading and the exchange to tweak its strategy to focus on settlements in roubles...
Market players sought to sell shares when the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) added SPB, Russia's second-largest bourse, to its SDN list..
The exchange last week said the sanctions would not affect clients' asset holdings, but Russia's central bank has warned that the SPB faces a serious challenge in finding long-term viability should foreign asset trading be diminished...
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