OREANDA-NEWS  The St. Petersburg Stock Exchange explained the suspension of trading in securities on Friday, December 29, by a technical glitch. This is reported by the press service of the site.

"The causes of the technical failure are being investigated. The time of resumption of organized securities trading will be announced additionally," the representatives of the exchange explained.

Over 2,000 shares and depositary receipts of international companies, as well as securities of ETF investment funds registered outside Russia, were traded on the exchange. However, in early December, the St. Petersburg Stock Exchange came under US sanctions. Due to the new restrictions, the foreign securities market has become inaccessible to the site: the assets of the site in the United States are blocked, and financial transactions and transactions with them are prohibited to Americans.

According to the head of the Bank of Russia Elvira Nabiullina, the Exchange will be able to adapt to the new conditions, it has plans to launch new services and products. Other financial institutions that have already faced sanctions and have been able to adapt and develop will be an example for her, the representative of the regulator noted.

The St. Petersburg Stock Exchange, which has fallen under American sanctions, is considering options for developing a new business line — one of the options may be trading cryptocurrencies, said Anatoly Aksakov, head of the State Duma Committee on the Financial Market. However, a number of experts doubt that the trading platform will be able to return to the same level of income.