The Central Bank does not yet see the prospect of a “total exchange” of blocked assets
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The head of the Central Bank (CB), Elvira Nabiullina, said that in the future, it is possible to exchange shares blocked in Russia for frozen securities of the Russian Federation in the West. But she clarified that this requires the interest of the second party, there are no prospects for a “total exchange” yet.
“In the future, it is possible to exchange blocked shares for blocked shares. If the shares blocked by us from the other side enter our market in this way through the sale by the Russian acquirer, this is a way out of the blocking,” she said at the NAUFOR conference “Russian Stock Market” (quoted by TASS).
According to the head of the Central Bank, there are several options for solving the problem with the blocked assets of the Russian Federation. “But in any case, this requires the consent of that party and the manifestation of at least interest on the part of foreign participants in the Russian market, whose securities were blocked, in order for this to take place,” added Ms. Nabiullina (quoted by Interfax).
Because of the sanctions, about $300 billion of Russian reserves were frozen. However, for now, according to analystsThe West managed to find only $80-100 billion of them. The European Union is discussing the confiscation of frozen Russian assets and their transfer to Ukraine. European Commission last week statedthat there are legal possibilities for this. G7 countries promised not unfreeze Russian assets until the end of the conflict in favor of Ukraine.
About what happens after the entry of Russian troops into Ukraine, read online broadcasts “b”.
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