Singapore Exchange explains Russia’s Gazprom suspension

Chicago, March 7 – PJSC Gazprom has had the admission of its Global Depositary Receipts suspended on the Singapore Exchange, according to a notice.

Further, the exchange is acting in line with the Singapore government’s prohibitions against entering into transactions or arrangements, or providing financial services that facilitate fundraising by entities owned or controlled by the Russian government.

Notably, the prohibitions apply to buying and selling new securities, providing financial services that facilitate new fundraising by, and making or participate in the making of any new loan to the above entities.

The natural gas producer is based in Moscow. The Russian government is the ultimate controlling party of Gazprom and has a controlling interest of over 50% in it.

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