⚡The Moscow Exchange announced that due to the introduction of U.S. sanctions, trading in currency pairs with the U.S. dollar and the euro will cease starting June 13, 2024.
⚡On June 12, the U.S. Department of the Treasury added the Moscow Exchange, the National Clearing Center (NCC), and the National Settlement Depository (NSD) to its sanctions list.
⚡The exchange rate of the U.S. dollar to the ruble will now be determined by data from banks and digital platforms in over-the-counter (OTC) markets. On global exchanges, the conversion of USDT to rubles may be available through P2P platforms, but the largest Russian banks oppose such arbitrage due to the lack of transparent regulations. Regulatory bodies are showing interest in bringing this activity into the legal sector of the economy.