exchange of blocked assets may begin in January 2024 – Kommersant
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Russian Deputy Finance Minister Ivan Chebeskov said that the department hopes that the exchange of blocked assets between Russians and foreigners will begin in January next year. The first stage of the asset exchange should be completed by 2025.
“Then we would, of course, like to take the next step – either expand the amount for these funds, or expand the circle of participants who get the opportunity to exchange. Now we mainly focus on citizens, but we also have institutional investors, we also have companies that have the same problem,” the deputy minister said in an interview RBC.
As Mr. Chebeskov explained, it is not yet known on what date and at what rate the value of assets presented for exchange will be assessed, but it is planned that for Russians the price of the asset will be “no worse” than the market price.
President Vladimir Putin November 8 signed Decree on additional temporary measures related to the circulation of foreign securities. It allows you to launch the process of exchanging blocked assets worth up to 100 thousand rubles, which belong to retail investors. Participation in the process of exchanging blocked assets will be voluntary. As Russian Finance Minister Anton Siluanov noted, the assets of more than 3.5 million Russian citizens worth 1.5 trillion rubles are now blocked abroad.
Read more in the article “Kommersant” “Defrosting briefcases”.
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