UK plans to abolish special status of Moscow Stock Exchange

The UK's tax authority, HM Revenue and Customs (HMRC), has today (19 April 2022) announced its intention to revoke the Moscow Stock Exchange's (MOEX) status as a recognized stock exchange, Report informs, citing the government's website.

This means investors will not be able to access certain UK tax benefits in the future when trading securities on MOEX, although existing investments will be protected.

Financial Secretary to the Treasury, Lucy Frazer, said: "As we continue to isolate Russia in response to their illegal war on Ukraine, revoking Moscow Stock Exchange's recognized status sends a clear message – there is no case for new investments in Russia."