"Suspension of Japanese yen transactions from August 8th"

The Russian Moscow Exchange issued an announcement on the 25th that the Japanese yen trading has been suspended from August 8th, restricting measures for related foreign exchange transactions for the yen-ruble and the US dollar-yen.

According to the announcement, the obligations involved in the exchanges that have been completed before and will be completed by August 5, 2022 will be fulfilled as usual.

Analysts believe that Western sanctions and yen exchange rate fluctuations are important reasons for the suspension of Japanese yen transactions on the Moscow Exchange.Russian market analyst Eveni Shatov said that trade between Russia and Japan has declined due to sanctions and may be one of the reasons for the suspension of the Japanese yen transaction on the Moscow Exchange.

Russian financial analysts Mikhail Buliayev believes that the United States may restrict Russia's restrictions on Japanese yen settlement and transactions, and the fierce fluctuations in the yen exchange rate will cause investors to suffer losses.

Since March this year, Japan has imposed a series of sanctions on Russia.According to Russian media reports, Japan's import ban on Russia's gold will take effect on August 1.

Source: Xinhua News Agency

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