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London Stock Exchange suspends trading in GDRs of Russia's VTB Bank

London Stock Exchange to enter market for private company financing
London Stock Exchange to enter market for private company financing -  Copyright  Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
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LONDON - The London Stock Exchange said on Tuesday it will stop trading in two global depository receipts (GDRs) for Russia's VTB Bank after Britain's financial regulator suspended them in response to sanctions.

"Accordingly, the exchange has suspended the admission to trading of these securities with immediate effect," the LSE said in a statement.

Last Friday, the LSE suspended membership of VTB Capital, the bank's trading arm, following the introduction of sanctions after Russia's invasion of Ukraine.

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