Status: 03/01/2022 4:15 p.m
From tomorrow on, bonds, shares or derivatives from Russia will no longer be traded on Deutsche Börse. Meanwhile, several banks are calling for a general boycott of Russian financial institutions.
Russian bonds, shares and derivatives can no longer be traded on Deutsche Börse from Wednesday. “In the public interest”, the purchase and sale of these papers will be stopped until further notice at the end of trading on Tuesday, the Frankfurt stock exchange operator announced.
Already on Monday he suspended trading in securities of Russian banks and other companies affected by sanctions – including the banks VTB and Sberbank as well as the Gazprom group and the oil company Rosneft. In addition to Russian government bonds, there are now more than 30 papers from all other Russian companies listed in Frankfurt.
Meanwhile, several church and sustainability banks have called on the financial industry and investors to boycott Russian financial institutions. “We condemn all direct and indirect financing of this war of aggression,” said nine financial institutions in a statement. “All financial players must now take a clear position and take responsibility.”
Implementation of sanctions insufficient
According to the statement, the responsibility of financial market players does not end with the implementation of state sanctions. You have to go beyond that: “Financial market players who are active in Germany are called upon to influence their parent companies to end business relationships, even if no sanctions have been imposed.” There are already first positive examples: “We welcome the fact that comparison platforms have removed Russian banks from interest rate comparisons.” Investors should question what is being financed with their money and which bank they want to work with.
The signatories are the Evangelische Bank, the Bank for Church and Diakonie, the Bank for Church and Caritas, the Pax-Bank, the Bank im Bistum Essen BIB Fair Banking, the Steyler Ethik Bank, the UmweltBank, the Triodos Bank and the Bank for social economy.