Russian investment expert says 'rest in peace' to Moscow stock market, says he might work as 'Santa Claus'
The guest said that he may have to go back to working as 'Santa Claus'
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A Russian stock market analyst said farewell to the country's stock market during an interview on a Russian television channel on Wednesday, stating that he might have to switch careers and become "Santa Claus."
Alex Butmanov, founder and CEO of DTI Algorithmic, a company that trades stocks and ETFs in the U.S., Europe, Asia, and Russia, made the comments while on RBC TV's "Trading in a New Way," according to Business Insider.
Elina Tikhonova, the anchor, asked Butmanov about his plans on remaining in his current career, and he wasn't too optimistic.
"As a last resort, I will work as Santa Claus, like I did 25 years ago," Butmanov said.
MOSCOW SUSPENDS STOCK TRADING UNTIL MARCH 5
A view of the Moscow's stock market building in downtown Moscow on February 28, 2022. - Russia's central bank announced on February 28, 2022 it was raising its key interest rate to 20 percent from 9.5 percent as the West pummelled the country with sa … (Natalia Kolesnikova/AFP via Getty Images / Getty Images)
Tikhonova noted that "Santa Claus" jobs only come once a year, and Butmanov responded by opening a soda bottle, stating that it's the end of the Russian stock market.
"I say hello to Sergey Usichenko who drank 12-13 years ago for the death of the stock market. Today I drink soda," Butmanov said. "Dear stock market, you were close to us, you were interesting. Rest in peace dear friend."
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A man walks past the Moscow's stock market building in downtown Moscow on February 28, 2022. - Russia's central bank announced on February 28, 2022 it was raising its key interest rate to 20 percent from 9.5 percent as the West pummelled the country … (Natalia Kolesnikova/AFP Via Getty Images)
Tikhonova then said that she "won't comment on this flash mob," adding that she doesn't "want to believe it."
Butmanov's comments come a week after Russian President Vladimir Putin approved a "special military operation" in Ukraine on Feb. 24, saying "our confrontation with these [Ukrainian] forces is inevitable."
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Russian President Vladimir Putin speaks as he attends the G20 summit via videoconference in Moscow, Russia, Saturday, Oct. 30, 2021. The two-day Group of 20 summit is the first in-person gathering of leaders of the world's biggest economies since the … (Evgeniy Paulin, Sputnik, Kremlin Pool Photo via AP / AP Newsroom)
Russia's Central Bank has suspended trading at the Moscow Exchange through March 5 amid severe sanctions, including a joint announcement between the U.S., Canada, and other European allies that select Russian banks would be cut off from the SWIFT international banking network.
The value of the ruble fell to less than one cent in U.S currency this week, losing over 30% of its value since the beginning of the year, according to Reuters.