Assets blocked on the St. Petersburg Exchange can be exchanged by presidential decree – Kommersant

The assets of Russian investors blocked on the St. Petersburg Exchange can be exchanged within the framework of a decree signed by the president, said Deputy Head of the Ministry of Finance Ivan Chebeskov. In November, Vladimir Putin signed a decree allowing to launch the process of exchanging blocked assets worth up to 100 thousand rubles. In the same month, St. Petersburg Exchange came under US sanctions.

According to Mr. Chebeskov, the authorities realized that “this is inevitable” and “sooner or later the exchanges will fall under sanctions.” “We will help those investors who remained on the stock exchange, as well as other investors. They will fall under the same decree that was signed by the president. I see no reason why they should be excluded,” he clarified on the sidelines of the Retail Investor forum (quoted by RIA Novosti).

On November 2, the United States imposed sanctions against the St. Petersburg Exchange. Since November 3, transactions on the trading platform are carried out only with certain Russian securities and shares of the exchange itself. Exchange plans obtain permission from the US Treasury to withdraw assets. On November 27, information appeared about the filing of a bankruptcy petition with the St. Petersburg Exchange; its shares fell by 30%. The platform denied filing a lawsuit. Central Bank believesthat the situation requires investigation, as it looks like an attempt to manipulate the market.

About the asset exchange scheme – in the material “Kommersant FM” “The exchange of assets is included in the scheme”.

Laura Keffer