The United Kingdom said on April 19 that it intended to revoke the Moscow Stock Exchange’s recognized status. If the decision is made, investors will no longer be able to access certain tax benefits in the United Kingdom during trading on the Russian stock market. This was reported by CNN.
It is noted that the existing investments will remain protected, ie the decision will affect only new financial injections into the Moscow Stock Exchange. This is evidenced by a statement from the British tax authority HMRC.
Another step towards isolating Russia
The intention to deprive the Moscow Stock Exchange of its recognized status is another means of sanctions pressure on Russia imposed by the British government after the cynical full-scale terrorist invasion of Ukraine.
As we continue to isolate Russia in response to its full-scale invasion of Ukraine, the abolition of the status of the Moscow Stock Exchange as recognized gives a clear signal that there are no grounds for new investment in the aggressor country.
It should be added that the status of a recognized stock exchange is a classification provided by HMRC for special tax conditions of trading. It allows trading in securities listed on a recognized exchange to be entitled to certain benefits and simplified tax conditions.