In the future, it is possible to exchange shares blocked in Russia with securities frozen in the West. But this requires the interests of the second party, there is no possibility of “total swap” yet. This was expressed by the head of the Central Bank, Elvira Nabiullina, at the NAUFOR “Russian Stock Exchange” conference, transmits interfax.
Nabiullina described the problem of blocking Russian assets in the West as “painful”.
According to the head of the Central Bank, there are several options for solving this problem. However, “this requires the consent of that party and at least the demonstration of interest from foreign participants in the Russian market whose securities are blocked for this to happen.”
May 12, Deputy Governor of the Central Bank Alexei Guznov, St. Petersburg Law Forum knowledgeableIt has been reported that the Central Bank has prepared a large number of lawsuits within the scope of its efforts to return international reserves.
Prior to that, Central Bank head Elvira Nabiullina said that the regulator plans to sue for the return of blocked reserves. In the spring of 2022, the Ministry of Finance estimated the volume of blocked international reserves at $300 million.