Russia’s Saint Petersburg Stock Exchange has announced it will allow the trading of 12 Hong Kong stocks from Monday, June 20, raising concerns that Russians may use Hong Kong to evade western sanctions. It remains unclear how the proposed cross-border stock trading can be done without the SWIFT.

According to the SPB Exchange’s announcement, brokers will be able to trade 12 Hong Kong stocks from June 20. The 12 companies include CK Hutchison Holdings, WH Group, Tencent Holdings, CK Asset Holdings, Sino Biopharmaceutical, Xiaomi Corp, Sands China, Country Garden Holdings, Sunny Optical Technology Group, Meituan, Alibaba Group and JD.com.

Sputniknews, a Russian news agency, said that the number of the Hong Kong-listed stocks that could be traded on the SPB Exchange would increase to 50 in two months, 200 by the end of this year and more than 1,000 next year.

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