investors with portfolios up to 100 thousand rubles will be the first to be unblocked – Kommersant

First Deputy Chairman of the Bank of Russia Vladimir Chistyukhin said that investors with portfolios up to 100 thousand rubles. may be the first to be subject to a voluntary exchange of blocked assets if this procedure is launched.

“With the Ministry of Finance, we prioritize retail investors. We talked about the fact that we would like to first of all cover investors with portfolios up to 100 thousand rubles, ”explained the deputy head of the regulator (quoted from TASS). When the process of exchanging blocked assets can begin, he did not specify.

Russian Deputy Finance Minister Alexei Moiseev confirmed that the draft decree of the President of Russia on the exchange of frozen assets is in a high degree of readiness, aimed primarily at investors with small funds. “We have almost completed the decree with the Central Bank; on the whole, it is almost ready. First of all, it will be aimed at retail investors, these are not large institutional portfolios, these are small portfolios of people who have invested their small funds in foreign securities,” the official emphasized.

On August 22, the head of the Russian Ministry of Finance Anton Siluanov declaredthat the government and the Central Bank have prepared a draft decree on the beginning of the exchange of blocked assets of Russian and foreign investors, at the first stage it is planned to unblock accounts in the amount of about 100 billion rubles. Today, September 1, the head of the Central Bank Elvira Nabiullina statedthat at the moment the Bank of Russia is not conducting any negotiations on the exchange of blocked assets with foreign regulators.

The total amount of funds on special type C ruble accounts, which, among other things, block income from securities owned by “unfriendly” non-residents, as of the beginning of November 2022, exceeded 280 billion rubles, the Bank of Russia estimated.

Alexander Kislov