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Russian stock market, crushed by war, opens with big limits

Russia Ukraine Stock Exchange
Posted at 10:58 AM, Mar 24, 2022
and last updated 2022-03-24 10:58:24-04

NEW YORK (AP) — The Russian stock market has opened for limited trading under heavy restrictions for the first time since Moscow invaded Ukraine.

It comes almost a month after prices plunged and the market was shut down as a way to insulate the economy.

Trading of a limited number of stocks, including energy giants Gazprom and Rosneft, took place Thursday under curbs meant to prevent a repeat of the massive selloff on Feb. 24 that came in anticipation of Western economic sanctions.

Foreigners cannot sell and traders are barred from short selling, or betting prices will fall.

The benchmark MOEX index gained 4.3% as some companies partially recovered losses.