Bank of Russia extends restriction on exchange trading in blocked securities
The Bank of Russia has extended for another six months the restriction on exchange trading in some foreign securities blocked by international depositories that were earlier withdrawn to non-trading accounts. This decision has been made to protect investors’ rights and interests and mitigate their risks.
From 1 April 2023, Russian depositories will continue keeping separate records of clients’ rights to blocked assets. Brokers in turn are forbidden to accept and fulfil clients’ orders to conduct transactions with these securities in the exchange market. Nevertheless, holders of such foreign securities preserve the right to them.
These rules do not apply to securities of the foreign issuers who carry out their core activity in the Russian Federation.