diff --git a/python/src/com/jetbrains/python/formatter/PyBlock.java b/python/src/com/jetbrains/python/formatter/PyBlock.java
index 9a627e37d3c2..11e6933ec6b4 100644
--- a/python/src/com/jetbrains/python/formatter/PyBlock.java
+++ b/python/src/com/jetbrains/python/formatter/PyBlock.java
@@ -28,6 +28,7 @@ import com.intellij.psi.util.PsiTreeUtil;
 import com.intellij.util.ArrayUtil;
 import com.jetbrains.python.PyElementTypes;
 import com.jetbrains.python.PyTokenTypes;
+import com.jetbrains.python.PythonDialectsTokenSetProvider;
 import com.jetbrains.python.psi.*;
 import com.jetbrains.python.psi.impl.PyPsiUtils;
 import org.jetbrains.annotations.NotNull;
@@ -446,7 +447,7 @@ public class PyBlock implements ASTBlock {
     if (TreeUtil.findParent(child, PyElementTypes.FSTRING_FRAGMENT) != null) {
       childWrap = Wrap.createWrap(WrapType.NONE, false);
     }
-    
+
     return new PyBlock(this, child, childAlignment, childIndent, childWrap, myContext);
   }
 
@@ -829,6 +830,10 @@ public class PyBlock implements ASTBlock {
       final IElementType childType2 = psi2.getNode().getElementType();
       child2 = getSubBlockByNode(node2);
 
+      if (isInsideFStringFragmentWithEqualsSign(myNode)) {
+        return Spacing.getReadOnlySpacing();
+      }
+
       if ((childType1 == PyTokenTypes.EQ || childType2 == PyTokenTypes.EQ)) {
         final PyNamedParameter namedParameter = as(myNode.getPsi(), PyNamedParameter.class);
         if (namedParameter != null && namedParameter.getAnnotation() != null) {
@@ -1171,4 +1176,16 @@ public class PyBlock implements ASTBlock {
   public boolean isLeaf() {
     return myNode.getFirstChildNode() == null;
   }
+
+  private static final TokenSet stopAtTokens = TokenSet.orSet(TokenSet.create(PyElementTypes.FSTRING_NODE),
+                                                              PythonDialectsTokenSetProvider.INSTANCE.getStatementTokens());
+
+  private static boolean isInsideFStringFragmentWithEqualsSign(@NotNull ASTNode node) {
+    final ASTNode fStringFragmentParent = node.getElementType() == PyElementTypes.FSTRING_FRAGMENT
+                                    ? node
+                                    : TreeUtil.findParent(node, TokenSet.create(PyElementTypes.FSTRING_FRAGMENT),
+                                                          stopAtTokens);
+    if (fStringFragmentParent == null) return false;
+    return fStringFragmentParent.findChildByType(PyTokenTypes.EQ) != null;
+  }
 }
diff --git a/python/src/com/jetbrains/python/parsing/ExpressionParsing.java b/python/src/com/jetbrains/python/parsing/ExpressionParsing.java
index 568af6d58d1a..4203ba3dc0b7 100644
--- a/python/src/com/jetbrains/python/parsing/ExpressionParsing.java
+++ b/python/src/com/jetbrains/python/parsing/ExpressionParsing.java
@@ -172,7 +172,8 @@ public class ExpressionParsing extends Parsing {
                                               PyTokenTypes.FSTRING_FRAGMENT_FORMAT_START,
                                               PyTokenTypes.FSTRING_FRAGMENT_END,
                                               PyTokenTypes.FSTRING_END,
-                                              PyTokenTypes.STATEMENT_BREAK)) {
+                                              PyTokenTypes.STATEMENT_BREAK,
+                                              PyTokenTypes.EQ)) {
         nextToken();
         recovery = true;
       }
@@ -183,6 +184,8 @@ public class ExpressionParsing extends Parsing {
       else {
         recoveryMarker.drop();
       }
+
+      matchToken(PyTokenTypes.EQ);
       final boolean hasTypeConversion = matchToken(PyTokenTypes.FSTRING_FRAGMENT_TYPE_CONVERSION);
       final boolean hasFormatPart = atToken(PyTokenTypes.FSTRING_FRAGMENT_FORMAT_START);
       if (hasFormatPart) {
@@ -195,6 +198,7 @@ public class ExpressionParsing extends Parsing {
           errorMessage = "type conversion, " + errorMessage;
         }
       }
+
       checkMatches(PyTokenTypes.FSTRING_FRAGMENT_END, errorMessage);
       marker.setCustomEdgeTokenBinders(null, CONSUME_COMMENTS_AND_SPACES_TO_LEFT);
       marker.done(PyElementTypes.FSTRING_FRAGMENT);
diff --git a/python/src/com/jetbrains/python/validation/CompatibilityVisitor.java b/python/src/com/jetbrains/python/validation/CompatibilityVisitor.java
index ff54c9a57364..b6254b2a3a52 100644
--- a/python/src/com/jetbrains/python/validation/CompatibilityVisitor.java
+++ b/python/src/com/jetbrains/python/validation/CompatibilityVisitor.java
@@ -691,4 +691,15 @@ public abstract class CompatibilityVisitor extends PyAnnotator {
                                    " not support positional-only parameters",
                                    node);
   }
+
+  @Override
+  public void visitPyFStringFragment(PyFStringFragment node) {
+    super.visitPyFStringFragment(node);
+
+    final ASTNode equalitySignInFStringFragment = node.getNode().findChildByType(PyTokenTypes.EQ);
+    if (equalitySignInFStringFragment != null) {
+      registerForAllMatchingVersions(level -> level.isOlderThan(LanguageLevel.PYTHON38) && registerForLanguageLevel(level),
+                                     " not support equality signs in f-strings", equalitySignInFStringFragment.getPsi());
+    }
+  }
 }
diff --git a/python/testData/formatter/spacesAroundEqualsSignInFStringFragment.py b/python/testData/formatter/spacesAroundEqualsSignInFStringFragment.py
new file mode 100644
index 000000000000..2b3d0a47c7b1
--- /dev/null
+++ b/python/testData/formatter/spacesAroundEqualsSignInFStringFragment.py
@@ -0,0 +1,8 @@
+print(f'{     math.pi          =            :.2f          }')
+s1 = f'{math.pi = :.2f}'
+s2 = f'{f"{3.1415=:.1f}":*^20}'
+s3 = f'{         0 ==          1 }'
+s4 = f'{                              12345      +          x  =   }'
+s5 = f'''{
+    3
+  = }'''
\ No newline at end of file
diff --git a/python/testData/formatter/spacesAroundEqualsSignInFStringFragment_after.py b/python/testData/formatter/spacesAroundEqualsSignInFStringFragment_after.py
new file mode 100644
index 000000000000..b5ac3de290c0
--- /dev/null
+++ b/python/testData/formatter/spacesAroundEqualsSignInFStringFragment_after.py
@@ -0,0 +1,8 @@
+print(f'{     math.pi          =            :.2f          }')
+s1 = f'{math.pi = :.2f}'
+s2 = f'{f"{3.1415=:.1f}":*^20}'
+s3 = f'{0 == 1}'
+s4 = f'{                              12345      +          x  =   }'
+s5 = f'''{
+    3
+  = }'''
diff --git a/python/testData/inspections/PyCompatibilityInspection/equalitySignInFStrings.py b/python/testData/inspections/PyCompatibilityInspection/equalitySignInFStrings.py
new file mode 100644
index 000000000000..d5212da63f0a
--- /dev/null
+++ b/python/testData/inspections/PyCompatibilityInspection/equalitySignInFStrings.py
@@ -0,0 +1,3 @@
+import math
+print(<warning descr="Python version 2.6, 2.7, 3.4, 3.5 do not support a 'F' prefix">f</warning>'{math.pi <warning descr="Python version 2.6, 2.7, 3.4, 3.5, 3.6, 3.7 do not support equality signs in f-strings">=</warning>:.2f}')
+print(<warning descr="Python version 2.6, 2.7, 3.4, 3.5 do not support a 'F' prefix">f</warning>'{<warning descr="Python version 2.6, 2.7, 3.4, 3.5 do not support a 'F' prefix">f</warning>"{3.1415<warning descr="Python version 2.6, 2.7, 3.4, 3.5, 3.6, 3.7 do not support equality signs in f-strings">=</warning>:.1f}":*^20}')
\ No newline at end of file
diff --git a/python/testData/psi/FStringEqualitySign.py b/python/testData/psi/FStringEqualitySign.py
new file mode 100644
index 000000000000..34ec4dcabdb3
--- /dev/null
+++ b/python/testData/psi/FStringEqualitySign.py
@@ -0,0 +1,19 @@
+import math
+s1 = f'{math.pi =    :.2f}'
+s2 = f'{f"{3.1415=:.1f}":*^20}'
+s3 = f'{0 == 1}'
+x = 'A string'
+s4 = f'{x=!s}'
+x = 2.71828
+s5 = f'{x=:.2f}'
+s6 = f'{x=:}'
+s7 = f'{x=!r:^20}'
+s8 = f'{x=!s:^20}'
+s9 = f'{x=    !a:^20}'
+s10 = f'{3 * x + 15=}'
+pi = 'π'
+s11 = f'alpha α {pi   =    } ω omega'
+s12 = f'''{
+    3
+    =}'''
+s13 = f'{"="}'
\ No newline at end of file
diff --git a/python/testData/psi/FStringEqualitySign.txt b/python/testData/psi/FStringEqualitySign.txt
new file mode 100644
index 000000000000..fd8ae03707a2
--- /dev/null
+++ b/python/testData/psi/FStringEqualitySign.txt
@@ -0,0 +1,319 @@
+PyFile:FStringEqualitySign.py
+  PyImportStatement
+    PsiElement(Py:IMPORT_KEYWORD)('import')
+    PsiWhiteSpace(' ')
+    PyImportElement:math
+      PyReferenceExpression: math
+        PsiElement(Py:IDENTIFIER)('math')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s1
+      PsiElement(Py:IDENTIFIER)('s1')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: {math.pi =    :.2f}
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PyReferenceExpression: pi
+            PyReferenceExpression: math
+              PsiElement(Py:IDENTIFIER)('math')
+            PsiElement(Py:DOT)('.')
+            PsiElement(Py:IDENTIFIER)('pi')
+          PsiWhiteSpace(' ')
+          PsiElement(Py:EQ)('=')
+          PsiWhiteSpace('    ')
+          PyFStringFragmentFormatPart
+            PsiElement(Py:FSTRING_FRAGMENT_FORMAT_START)(':')
+            PsiElement(Py:FSTRING_TEXT)('.2f')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_END)(''')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s2
+      PsiElement(Py:IDENTIFIER)('s2')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: {f"{3.1415=:.1f}":*^20}
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PyStringLiteralExpression: {3.1415=:.1f}
+            PyFormattedStringElement
+              PsiElement(Py:FSTRING_START)('f"')
+              PyFStringFragment
+                PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+                PyNumericLiteralExpression
+                  PsiElement(Py:FLOAT_LITERAL)('3.1415')
+                PsiElement(Py:EQ)('=')
+                PyFStringFragmentFormatPart
+                  PsiElement(Py:FSTRING_FRAGMENT_FORMAT_START)(':')
+                  PsiElement(Py:FSTRING_TEXT)('.1f')
+                PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+              PsiElement(Py:FSTRING_END)('"')
+          PyFStringFragmentFormatPart
+            PsiElement(Py:FSTRING_FRAGMENT_FORMAT_START)(':')
+            PsiElement(Py:FSTRING_TEXT)('*^20')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_END)(''')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s3
+      PsiElement(Py:IDENTIFIER)('s3')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: {0 == 1}
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PyBinaryExpression
+            PyNumericLiteralExpression
+              PsiElement(Py:INTEGER_LITERAL)('0')
+            PsiWhiteSpace(' ')
+            PsiElement(Py:EQEQ)('==')
+            PsiWhiteSpace(' ')
+            PyNumericLiteralExpression
+              PsiElement(Py:INTEGER_LITERAL)('1')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_END)(''')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: x
+      PsiElement(Py:IDENTIFIER)('x')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: A string
+      PsiElement(Py:SINGLE_QUOTED_STRING)(''A string'')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s4
+      PsiElement(Py:IDENTIFIER)('s4')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: {x=!s}
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PyReferenceExpression: x
+            PsiElement(Py:IDENTIFIER)('x')
+          PsiElement(Py:EQ)('=')
+          PsiElement(Py:FSTRING_FRAGMENT_TYPE_CONVERSION)('!s')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_END)(''')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: x
+      PsiElement(Py:IDENTIFIER)('x')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyNumericLiteralExpression
+      PsiElement(Py:FLOAT_LITERAL)('2.71828')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s5
+      PsiElement(Py:IDENTIFIER)('s5')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: {x=:.2f}
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PyReferenceExpression: x
+            PsiElement(Py:IDENTIFIER)('x')
+          PsiElement(Py:EQ)('=')
+          PyFStringFragmentFormatPart
+            PsiElement(Py:FSTRING_FRAGMENT_FORMAT_START)(':')
+            PsiElement(Py:FSTRING_TEXT)('.2f')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_END)(''')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s6
+      PsiElement(Py:IDENTIFIER)('s6')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: {x=:}
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PyReferenceExpression: x
+            PsiElement(Py:IDENTIFIER)('x')
+          PsiElement(Py:EQ)('=')
+          PyFStringFragmentFormatPart
+            PsiElement(Py:FSTRING_FRAGMENT_FORMAT_START)(':')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_END)(''')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s7
+      PsiElement(Py:IDENTIFIER)('s7')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: {x=!r:^20}
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PyReferenceExpression: x
+            PsiElement(Py:IDENTIFIER)('x')
+          PsiElement(Py:EQ)('=')
+          PsiElement(Py:FSTRING_FRAGMENT_TYPE_CONVERSION)('!r')
+          PyFStringFragmentFormatPart
+            PsiElement(Py:FSTRING_FRAGMENT_FORMAT_START)(':')
+            PsiElement(Py:FSTRING_TEXT)('^20')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_END)(''')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s8
+      PsiElement(Py:IDENTIFIER)('s8')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: {x=!s:^20}
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PyReferenceExpression: x
+            PsiElement(Py:IDENTIFIER)('x')
+          PsiElement(Py:EQ)('=')
+          PsiElement(Py:FSTRING_FRAGMENT_TYPE_CONVERSION)('!s')
+          PyFStringFragmentFormatPart
+            PsiElement(Py:FSTRING_FRAGMENT_FORMAT_START)(':')
+            PsiElement(Py:FSTRING_TEXT)('^20')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_END)(''')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s9
+      PsiElement(Py:IDENTIFIER)('s9')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: {x=    !a:^20}
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PyReferenceExpression: x
+            PsiElement(Py:IDENTIFIER)('x')
+          PsiElement(Py:EQ)('=')
+          PsiWhiteSpace('    ')
+          PsiElement(Py:FSTRING_FRAGMENT_TYPE_CONVERSION)('!a')
+          PyFStringFragmentFormatPart
+            PsiElement(Py:FSTRING_FRAGMENT_FORMAT_START)(':')
+            PsiElement(Py:FSTRING_TEXT)('^20')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_END)(''')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s10
+      PsiElement(Py:IDENTIFIER)('s10')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: {3 * x + 15=}
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PyBinaryExpression
+            PyBinaryExpression
+              PyNumericLiteralExpression
+                PsiElement(Py:INTEGER_LITERAL)('3')
+              PsiWhiteSpace(' ')
+              PsiElement(Py:MULT)('*')
+              PsiWhiteSpace(' ')
+              PyReferenceExpression: x
+                PsiElement(Py:IDENTIFIER)('x')
+            PsiWhiteSpace(' ')
+            PsiElement(Py:PLUS)('+')
+            PsiWhiteSpace(' ')
+            PyNumericLiteralExpression
+              PsiElement(Py:INTEGER_LITERAL)('15')
+          PsiElement(Py:EQ)('=')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_END)(''')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: pi
+      PsiElement(Py:IDENTIFIER)('pi')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: π
+      PsiElement(Py:SINGLE_QUOTED_STRING)(''π'')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s11
+      PsiElement(Py:IDENTIFIER)('s11')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: alpha α {pi   =    } ω omega
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'')
+        PsiElement(Py:FSTRING_TEXT)('alpha α ')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PyReferenceExpression: pi
+            PsiElement(Py:IDENTIFIER)('pi')
+          PsiWhiteSpace('   ')
+          PsiElement(Py:EQ)('=')
+          PsiWhiteSpace('    ')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_TEXT)(' ω omega')
+        PsiElement(Py:FSTRING_END)(''')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s12
+      PsiElement(Py:IDENTIFIER)('s12')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: {
+    3
+    =}
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'''')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PsiWhiteSpace('\n    ')
+          PyNumericLiteralExpression
+            PsiElement(Py:INTEGER_LITERAL)('3')
+          PsiWhiteSpace('\n    ')
+          PsiElement(Py:EQ)('=')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_END)(''''')
+  PsiWhiteSpace('\n')
+  PyAssignmentStatement
+    PyTargetExpression: s13
+      PsiElement(Py:IDENTIFIER)('s13')
+    PsiWhiteSpace(' ')
+    PsiElement(Py:EQ)('=')
+    PsiWhiteSpace(' ')
+    PyStringLiteralExpression: {"="}
+      PyFormattedStringElement
+        PsiElement(Py:FSTRING_START)('f'')
+        PyFStringFragment
+          PsiElement(Py:FSTRING_FRAGMENT_START)('{')
+          PyStringLiteralExpression: =
+            PsiElement(Py:SINGLE_QUOTED_STRING)('"="')
+          PsiElement(Py:FSTRING_FRAGMENT_END)('}')
+        PsiElement(Py:FSTRING_END)(''')
\ No newline at end of file
diff --git a/python/testSrc/com/jetbrains/python/PyFormatterTest.java b/python/testSrc/com/jetbrains/python/PyFormatterTest.java
index 18e31ff5366b..da922afd7515 100644
--- a/python/testSrc/com/jetbrains/python/PyFormatterTest.java
+++ b/python/testSrc/com/jetbrains/python/PyFormatterTest.java
@@ -954,4 +954,9 @@ public class PyFormatterTest extends PyTestCase {
   public void testSpacesAroundFStringFragmentExpressionStripped() {
     runWithLanguageLevel(LanguageLevel.PYTHON36, this::doTest);
   }
+
+  // PY-36009
+  public void testSpacesAroundEqualsSignInFStringFragment() {
+    doTest();
+  }
 }
diff --git a/python/testSrc/com/jetbrains/python/PythonParsingTest.java b/python/testSrc/com/jetbrains/python/PythonParsingTest.java
index da529b973460..1b4d6aee04b5 100644
--- a/python/testSrc/com/jetbrains/python/PythonParsingTest.java
+++ b/python/testSrc/com/jetbrains/python/PythonParsingTest.java
@@ -901,6 +901,11 @@ public class PythonParsingTest extends ParsingTestCase {
     doTest(LanguageLevel.PYTHON38);
   }
 
+  // PY-36009
+  public void testFStringEqualitySign() {
+    doTest(LanguageLevel.PYTHON37);
+  }
+
   public void doTest() {
     doTest(LanguageLevel.PYTHON26);
   }
diff --git a/python/testSrc/com/jetbrains/python/inspections/PyCompatibilityInspectionTest.java b/python/testSrc/com/jetbrains/python/inspections/PyCompatibilityInspectionTest.java
index b331df12110a..3828507ef1ce 100644
--- a/python/testSrc/com/jetbrains/python/inspections/PyCompatibilityInspectionTest.java
+++ b/python/testSrc/com/jetbrains/python/inspections/PyCompatibilityInspectionTest.java
@@ -215,6 +215,11 @@ public class PyCompatibilityInspectionTest extends PyInspectionTestCase {
     doTest(LanguageLevel.PYTHON34);
   }
 
+  // PY-36009
+  public void testEqualitySignInFStrings() {
+    doTest(LanguageLevel.PYTHON38);
+  }
+
   public void testInputFromSixLib() {
     doTest(LanguageLevel.PYTHON27);
   }