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NEWS: Russia’s SPB Exchange seeks legal advice after US sanctions force trading halt

By Elena Fabrichnaya

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.

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