Kazakh National Banks monitors the situation surrounding US sanctions against MOEXThe National Bank of Kazakhstan is monitoring the situation on the financial market after the US introduced sanctions against Moscow Stock Exchange (MOEX), the central bank said in a Thursday press release."The tenge exchange rate will continue to be influenced by internal and external factors, which are favorable at the moment: oil prices are above $80 per barrel," the press release says.Earlier this week, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions on Moscow Exchange PJSC, Russia's National Clearing Center (NCC) and National Settlement Depository.As at June 1, 2024 MOEX owned 13.1% of KASE's issued shares, so the sanctions will not affect KASE since, according to OFAC's regulations, sanctions will only apply to those entities in which another entity that is on the SDN List directly or indirectly controls 50% of shares/interest or higher individually or jointly with other entities or persons that are under the sanctionsKazakhstan Stock Exchange and its Clearing Center continue operating as usual. All trading, clearing and settlement operations are carried out in accordance with the standard procedures, KASE said.KASE will have a look at business relations with MOEX in view of the sanctions, according to its statement.The National Bank Chairman Timur Suleimenov told journalists earlier on the sidelines of a Wednesday session of the parliament that Kazakhstan is mulling over buyback of KASE shares from MOEX. According to the chief banker, currency pair trades are not expected to be affected, since Russia has already switched to alternative platforms for trading the Ruble/Dollar pair.Kazakhstan Stock Exchange (KASE) is a leading stock exchange in the Central Asian region. KASE occupies the second place among the CIS exchanges in terms of securities trading volume, and the fourth place in terms of the equity market capitalization among the FEAS exchanges.KASE is a universal trading platform for corporate and government securities, bonds of international financial organizations, foreign currencies, transactions of the money market – repo and swap, as well as derivatives.KASE is a member of the World Federation of Exchanges (WFE), the Federation of Euro-Asian Stock Exchanges (FEAS), the International Association of Exchanges of the Commonwealth of Independent States (MAB CIS), The Global Association of Central Counterparties (CCP Global) and other international and local professional associations, as well as a participant of the UN's "Sustainable Stock Exchanges" initiative. (ICE ALMATY)

Fonte notizia: INTERFAX