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UK’s USS pension scheme places moratorium on buying Russian assets

LONDON (Reuters) – Britain’s Universities Superannuation Scheme said on Monday it had placed a moratorium on new long positions in all Russian assets.

The move is the latest by an asset owner to limit exposure to Russia financial assets in the wake of the country’s invasion of Ukraine, which Russia terms a ‘special operation’.

“We have placed a moratorium on new long positions taken in all Russian assets which is over and above full compliance with UK government sanctions restricting trading in sovereign debt and other Russian assets,” a spokesperson said in emailed comments.

Where the scheme was not in direct control, for example where it invests in funds with other investors, it would encourage the same position to be adopted.

“Where we have existing investments, we will need to consider our position carefully in the light of trading restrictions,” the spokesperson added, referring to a move by the central bank to stop share sales on the Moscow exchange.

UK’s USS pension scheme places moratorium on buying Russian assets

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