Central Bank reveals how Russian investors can sell frozen assets
[ad_1]
The draft decree on unblocking part of foreign assets for exchange for Russian ones, prepared by the government and the Bank of Russia, provides for the possibility of acquiring blocked securities from Russian investors for money from C-type accounts. About it “Interfax” the press service of the regulator said.
“It is assumed that at the initial stage, conditions will be created for the “unblocking” of assets, primarily for retail investors: interested foreign investors will be given the opportunity to purchase from Russian investors the corresponding “blocked” foreign securities at the expense of funds held on accounts of type “C” ”, — stated in the message of the Bank of Russia.
Account type “C” (conversion) is designed to carry out transactions for the purchase and sale of foreign currency by a non-resident for Russian rubles.
On the preparation of a presidential decree, which will allow the exchange of blocked assets of Russian and foreign investors, the day before, on August 23, informed Russian Finance Minister Anton Siluanov. According to him, at the first stage it is planned to unblock accounts in the amount of about 100 billion rubles. In total, according to the Ministry of Finance, assets are blocked from 3.5 million Russian citizens in the amount of 1.5 trillion rubles.
In early June 2022, the European Union included the National Settlement Depository (part of the Moscow Exchange group) in the sanctions list, which led to the blocking of its accounts in the European depositories Euroclear and Clearstream. According to the Central Bank, as of the end of November 2022, in European depositories were blocked assets of Russian investors in the amount of about 5.7 trillion rubles.
[ad_2]
Source link
