BEIJING, November 8 (RIA Novosti) — Russian energy giants Rosneft, Lukoil and Gazprom consider listing their securities in Asian currencies on the Hong Kong Stock Exchange, Russian Economic Development Minister Alexei Ulyukayev said Saturday.
"The largest Russian companies – Gazprom, Rosneft and Lukoil – are considering the Hong Kong Stock Exchange as a platform to list their securities in Asian currencies (yuan, Hong Kong dollar, Singapore dollar)," the ministry's press service quoted Ulyukayev as saying at a meeting with the Hong Kong's Commerce and Economic Development Bureau's Secretary Gregory So held on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Beijing.
According to the minister, the Russian energy giants are now taking actions aimed at having direct access – without the involvement of entities registered in other jurisdictions – to the Hong Kong Stock Exchange in order to list their securities in Hong Kong dollars.
The United States, the European Union and other countries have imposed several waves of economic sanctions against Russia over its alleged meddling in the Ukrainian conflict.
The most recent waves of sanctions particularly targeted the country's energy and banking sectors, prohibiting the export of goods, services and technologies for deepwater, Arctic and shale oil exploration to Russia, as well as prohibiting issuing new loans to a number of Russian banks for a period exceeding 30 days or buying any of their stocks and bonds over 30 days old.
