Investors to sell blocked foreign assets to non-residents
The Bank of Russia stipulated the procedure for interaction between financial market participants enabling Russian investors to sell their blocked foreign securities to non-residents for the funds in their
The trading may begin after the Government Commission approves the rules and conditions. After the start is announced, brokers, trustees and management companies of unit investment funds shall notify their clients of this. The participation in the trading is voluntary.
Each investor may submit a bid for a total amount of no more than ₽100,000. The Government Commission will also set the procedure for calculating the value of securities offered for sale. These securities will be kept in separate accounts with depositories until the end of the trading.
After the trading, the funds for the sold securities will be credited to the accounts specified by Russian investors. There will be no restrictions on how investors may use the funds received from the sale of the securities.
Non-residents wishing to take part in the trading shall submit a bid for the purchase of blocked securities. The assets acquired by non-residents will be credited to special transit depo accounts to be opened after the end of the trading. Foreigners will be able to pay for the assets using the funds from