Putin signed a decree on the exchange of frozen assets of Russians – Kommersant

Russian President Vladimir Putin signed a decree on additional temporary measures related to the circulation of foreign securities. It allows you to start the process of exchanging blocked assets worth up to 100 thousand rubles. Document published on the legal information portal.

First of all, the assets of retail Russian investors will be subject to the exchange procedure (as a rule, we are talking about investments in securities). According to the procedure established by the presidential decree, interested foreign investors will be able to purchase blocked foreign securities from Russians using funds from type “C” accounts. Type “C” accounts accumulate the assets of foreign investors in Russia. Foreigners from unfriendly countries could not withdraw funds from these accounts after the start of the Russian military operation in Ukraine.

Participation in the process of exchanging blocked assets will be voluntary. At the first stage, it is planned to unblock accounts worth about 100 billion rubles, which belong to retail investors.

Previously, Russian Finance Minister Anton Siluanov statedthat the assets of more than 3.5 million Russian citizens worth 1.5 trillion rubles are now blocked abroad. According to him, at the first stage of the exchange of Russian assets for the assets of foreign investors, it is planned to unblock the accounts of retail investors in the amount of 100 billion rubles.

Read more in the Kommersant FM article “An exchange plan is selected for frozen assets”.

Alexander Kislov