Moscow Exchange to partially reopen after six-month suspension

The Moscow Exchange will be partially reopened on Monday after a six-month suspension during the Ukraine war.

It says only investors from countries that are not hostile will be allowed to trade bonds.

Russia had sealed off its markets in February to prevent money from leaving the country during the war.

In a statement in Russian on Friday, the Moscow Exchange said it would be reopening its bond market to non-resident clients from countries that are not hostile, as well as non-residents whose ultimate beneficiaries are Russian legal entities or individuals. China and Turkey are likely to be among these nations, as they have not imposed sanctions against Russia.

These countries are members of the European Union, Canada and Japan. The group accounted for 90% of investments into Russia last year.

The country is believed to have defaulted on its debt in June for the first time since 1998.

While it had money to make a $100 m 82.5 m payment, sanctions made it impossible to get the sum to international creditors.