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Moscow Exchange To Begin Trading Apple Shares

Apple has faced hurdles in the lucrative Russian market. (file photo)

The Moscow Exchange has announced that it will soon begin trading shares of the U.S. technology giant Apple.

Russia's largest stock exchange made the announcement on August 17, saying that trading would begin on September 7.

Apple is one of the most dominant technology companies in the world and manufactures popular consumer electronics, develops software, and provides online services.

The company has recently faced hurdles in the lucrative Russian market.

In 2019, Russia's parliament passed the so-called "law against Apple," which will require all smartphone devices sold in the country to come preinstalled with apps approved by the Russian government.

The legislation was slated to come into effect in July but has been postponed until early 2021.

In August, Russia's competition watchdog ruled that Apple had abused its position in the mobile-apps market by requiring users to use the company's App Store. The Russian watchdog also said Apple was unlawfully blocking third-party apps from being sold on the App Store.

Apple posted record profits in its last quarter, with revenue of $59.7 billion.

Based on reporting by Apple, Reuters, and TASS