Thursday, June 13 2024 20:55
Alexandr Avanesov

Assessing long-term impact of new US sanctions against Russia will  take time - Central Bank Governor

Assessing long-term impact of new US sanctions against Russia will  take time - Central Bank Governor

ArmInfo.Assessing the long-term impact of new US sanctions against Russia, including  against the Moscow Exchange,  will take a certain period of time. This was stated by Martin Galstyan, Governor of the Central Bank of the Republic of Armenia, at the National Assembly of the Republic of  Armenia on June 13.

According to him, time is needed to assess the scale and impact of  the sanctions, as well as their possible impact on Armenia. After  this assessment, it will only be possible to make medium-term  forecasts.  Answering a question from the ruling Civil Contract  faction MP Babken Tunyan about today's fluctuations in the ruble  exchange rate, Galstyan emphasized that the exchange rate margins has  increased today, since companies that previously bought rubles on the  Moscow Exchange now find it difficult to do so. Risks have emerged  that no one wants to get involved in, and this has led to differences  in the margins. But today, as the head of the Central Bank  emphasized, the situation on the Armenian currency market has begun  to stabilize, and the fluctuations have subsided.

After the new sanctions imposed by the United States against Russia,  the Moscow Exchange stopped trading in dollars and euros on June 13.  The Exchange notes that trading will be carried out on all  instruments on the foreign exchange market and the precious metals  market, with the exception of the US dollar and euro. Trading will  also be carried out on all instruments on the stock and money  markets, the standardized derivatives market (SDFI), with the  exception of instruments with settlements in US dollars and euros.  Trading will be carried out on the futures market as usual. "The  Moscow Exchange Group has all the necessary tools to ensure  uninterrupted trading in conditions of increased volatility,  including discrete auctions, mechanisms for promptly changing risk  parameters. The main task of the Moscow Exchange is to ensure the  operation of the financial market infrastructure and the reliability  of transactions by its participants. In the face of new challenges,  the Moscow Exchange will continue to provide clients with access to  all segments of the trading platform," the Moscow Exchange statement  says. 

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