Russia reopens bond market to non-hostile investors

Image source, EPA-EFE/REX/Shutterstock

Foreign investors will be able to invest on the Moscow Exchange from Monday.

Only investors from countries that are friendly will be able to trade bonds.

Many of Russia's biggest investors have imposed sanctions on the country.

Russia's markets were closed in February because of the war.

The Moscow Exchange said on Friday that it would be reopening its bond market to non-resident clients from countries that are not hostile.

China and Turkey are likely to be included in this group as they have not imposed sanctions against Russia.

It was reported that investment management companies had begun to register their foreign clients with the exchange.

Russia's stock and bond markets were closed after Putin sent troops into the country.

The re- opening was limited to bonds issued by the Russians.

The ban on investors from hostile countries from selling Russian securities remains in place.

The European Union, Canada and Japan are included in this list. Most of the investments into Russia last year were made by the group.

Russia's invasion of Ukraine and sanctions imposed by the West have hurt its economy.

The country is thought to have failed to pay its debt in June.

The sanctions made it impossible for it to make a $100 million payment.

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