The Ministry of Finance announced conditions for the exchange of blocked assets – Kommersant
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The Ministry of Finance and Investment Chamber LLC announced the parameters and approximate terms of the transaction for the purchase by non-residents of foreign securities (MS) from resident individuals. Applications for the sale of blocked assets will be accepted from March 25 to May 8.
The Investment Chamber acts as the organizer of trading, during which a non-resident will have the right to buy back frozen foreign securities of Russian investors. Applications are collected through the mediation of brokers, trustees and management companies of mutual investment funds (MUIFs). More than 3.5 thousand exchange instruments will be subject to exchange.
The auction organizer plans to complete the process by September 1, 2024. It involves four stages:
- Applications for redemption from resident individuals are accepted until May 8.
- Lots for purchase by non-residents will be formed by May 31
- applications from non-resident sellers are accepted until July 5
- until July 29, carries out settlements (delivery of money and securities) based on the results of the redemption.
According to the Central Bank, St. Petersburg Exchange securities blocked due to anti-Russian sanctions will not be subject to the redemption procedure. A complete list of tools available for sale is published on a specialized section site auction organizer.
The news is being updated.
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