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Russian Stock Market Resumes Limited Trading

MOSCOW, RUSSIA – MARCH 23, 2022: A digital board at a bureau de change in central Moscow. On 23 March at 19pm Moscow time, the euro and US dollar exchange rates against the rouble at the Moscow Exchange reached 108.01 and 97.73 respectively, with the rouble slightly strengthening. Vyacheslav Prokofyev/TASS/Sipa USA

NEW YORK — The Russian stock market has resumed limited trading under heavy restrictions, almost one month after prices plunged and the market was shut down following Moscow’s invasion of Ukraine.

Trading of a limited number of stocks including energy giants Gazprom and Rosneft took place under curbs that are meant to prevent a repeat of the massive selloff that took place Feb. 24 in anticipation of Western economic sanctions.

Foreigners cannot sell and traders are barred from short selling, or betting prices will fall. The benchmark MOEX index gained 8% in the first minutes of trading.

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