The Central Bank extended restrictions on trading in foreign securities until October 1
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The Bank of Russia has extended for six months (until October 1) the restriction on the circulation of some foreign securities blocked by international depositories previously withdrawn to non-trading accounts. This is reported in press release regulator. The decision is aimed at minimizing risks for investors.
“From April 1, 2023, Russian depositories will continue to keep separate records of clients’ rights to blocked assets. Brokers, in turn, are not entitled to accept and execute clients’ instructions to make transactions with these securities on the exchange market,” follows from the message of the Bank of Russia. Meanwhile, the owners’ right of ownership to these foreign securities is retained.
The restriction was introduced May 30, 2022. The ban applies to foreign securities blocked in the National Settlement Depository as a result of sanctions. The restriction does not include depository receipts and shares of issuers whose majority of business is located in Russia, including X5 Retail, Polymetal, Globaltrans, Yandex, TCS Group.
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