Despite having close economic and security ties with Russia, ex-Soviet Kazakhstan has said it would observe Western sanctions against Moscow over its invasion of Ukraine. (Reporting by Olzhas Auyezov Editing by Bernadette Baum)
Messaging: olzhas.auyezov.thomsonreuters.com@reuters.net)) ALMATY, April 26 (Reuters) - One of Kazakhstan's biggest
brokerages, Halyk Finance, will no longer allow Russian and
Belarusian customers to buy non-Kazakh securities after the
Kazakh Stock Exchange instructed that such customers' accounts
be segregated, it said on Wednesday.
Using the services of Kazakh brokers, Russian investors have
previously been able to buy a limited range of international
stocks and bonds, including Eurobonds of Russian companies,
which trade at steep discounts in the West but can be resold
profitably in Russia.
Halyk Finance said in a statement that the stock exchange
and Kazakhstan's central securities depository would start the
segregation from May 1 and that the move might delay deal
settlements.
It said it was preemptively disallowing such investments by
Russian clients to avoid issues such as fines due to delays.
Officials at the Russian embassy in Almaty did not
immediately respond to requests for comment.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.