Central Bank of Russia bans short-selling

MOEX crashes 45%

The Russian central bank has today “ordered brokers” to suspend short sales that allow traders to bet against the value of Russian shares, as investors anticipate economic fallout for the nation following its invasion of Ukraine this morning.

According to a press announcement issued by the bank: "In connection with the current situation in the financial market, and in order to protect the rights and legitimate interests of investors in the financial markets, reduce risks and limit excessive volatility, the Bank of Russia ordered brokers to suspend short sales on exchange and over-the-counter market." The move has been coming for weeks, if not months, though financial markets have been primarily focused on inflation, hoping for a diplomatic solution to eastern European tensions with Russia. Russia's benchmark stock index, t...