Britain announced its plan to revoke the status of Moscow Stock Exchange on Tuesday.

According to British tax authority, HM Revenue and Customs (HMRC), the intention is to cancel its status as a recognized stock exchange.

The omission will obstruct investors to access certain UK tax benefits in the future.

It happens if they trade on the Moscow Stock Exchange in the near future.

Britain has imposed series of sanctions on Russia, and this is the latest one.

British Financial Secretary to the Treasury, Lucy Frazer, stated, “As we continue to isolate Russia in response to their illegal war on Ukraine, revoking Moscow Stock Exchange’s recognized status sends a clear message – there is no case for new investments in Russia.”