London Stock Exchange Group suspends all services in Russia -Breaking
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© Reuters. FILE PHOTO – A man walks by the London Stock Exchange, London, Britain on August 24, 2015. REUTERS/Suzanne PlunkettLONDON, (Reuters) – Britain’s London Stock Exchange LON: Group announced Friday that it will suspend all Russian customers’ products and services. This comes days after the suspension of the publication and commentary of news in Russia following the new Moscow laws.
According to a company statement, “LSEG confirms that it has suspended all products and services in Russia for customers subject to regulatory requirements,” said the company.
We continue to support the employees of this region. Our customers from outside Russia rely on us to provide data and price information within Russia. We also engage with them. These services are being offered by us, and we’re looking at other options.
After Russia’s invasion of Ukraine, heavy sanctions were imposed on Russia and the company was forced to leave. Russia calls its actions in Ukraine a “special operation.”
London Stock Exchange Group (LSEG), had already suspended Russian access to products containing news or commentary, as well as all sales of new products.
It didn’t, however, suspend data access for Russian existing customers.
LSEG is a distributor of news and commentary from Reuters. Thomson Reuters After Refinitiv bought the data-analytics company Refinitiv, (NYSE:), the parent stockholder of Reuters News holds a minor stake in the LSE.
Russian journalists can now be jailed for reporting any incident that might discredit the Russian military, according to a new law.
Last week, Ukraine’s National Bank of Ukraine (NBU), wrote Refinitiv and Bloomberg to request that they ban Russian and Belarussian financial institution access to their data platforms.
According to NBU, such a move could “cripple” their access to international financial markets.
Reuters declined comment. Bloomberg could not be reached immediately for comment.
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