How could anybody trust it?
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Yes, of course. The largest is the Moscow Exchange.
And to answer the other part of the question about trust: All stock markets are risky. If you think one exchange is more risky you will not buy any stock on it until it’s cheap enough to make up for the risk.
people invest in chinese companies where the state owns half of it.
People also trust other exchanges enough, despite big problems/scandals/crisies. In that Russia doesn’t seem so different from the USA, especially now, that both are getting close and mor similar again