Russian investors sold $4 billion worth of foreign securities – Kommersant
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Russian investors managed to sell foreign securities worth about $4 billion. This was announced by the head of the regulator, Elvira Nabiullina, during the Finopolis 2023 forum.
“Russian investors managed to get rid of foreign securities through trading for about $4 billion. That is, the risk has decreased by this amount,” said the head of the Central Bank.
According to her, the regulator has always warned that owning foreign securities carries high risks and said that for this reason, unqualified investors “were essentially prohibited from buying foreign securities.”
Ms. Nabiullina noted that the assets of qualified investors were primarily blocked. According to the regulator, 80% of the total volume of foreign securities on the St. Petersburg Exchange belongs to qualified investors.
In March 2022, foreign securities of Russian investors were blocked in the National Settlement Depository as a result of sanctions.
In 2020, a law was passed that reinforced the distinction between investors. The law also introduced a mandatory financial instruments knowledge test for unqualified investors to protect inexperienced securities market participants.
Read more about the regulator’s restrictions on the securities market in the material “The Central Bank advocates abstinence”.
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