Nasdaq suspended trading in the securities of the companies in question a year ago after the Moscow regime launched its all-out war against Ukraine. However, since then this measure has officially had a temporary character. With the decision that has now been made, companies can no longer hope that the situation will return to normal for them in the foreseeable future.
According to a news agency report Reuters Yandex and Ozon said they would appeal the decision. Neither company is affected by Western government sanctions, although some members of Yandex’ top management personally ended up on the embargo lists. However, Nasdaq is formally an independent company and can to a certain extent decide for itself whose shares it admits to its own marketplace.
Yandex is fighting
“Nasdaq’s decision has no impact on the company’s operations, services, financial condition or ability to meet all financial obligations to partners and other contractors,” Yandex said in a statement to its shareholders. However, the company has been struggling for a long time to reconcile the interests of the shareholders, some of whom come from abroad, with the specifications of the Kremlin. Some parts of the company have already been sold to the competitor VK in order to reduce the pressure a little.
In addition to the two groups mentioned, which are also internationally known, the recruitment agency Headhunter and the payment service provider Qiwi were also excluded from the New York Stock Exchange.
See also:
Economy, stock market, crisis, share price, recession
