St. Securities blocked following the sanctions imposed on the St. Petersburg Stock Exchange will not be subject to the procedure for the recovery of foreign assets. In this respect reported Bank of Russia.
“The decree of the President of the Russian Federation established that only foreign securities accounted for in the accounts of the Central Depository Institution (NSD) in foreign organizations can be submitted for redemption,” the regulator recalled.
This means that securities stored in the “SPb-Bank – NSD – foreign depositories” chain will be subject to ransom. However, St. Assets blocked following the sanctions imposed on the St. Petersburg Stock Exchange will not be affected by the buyback procedure.
“This information can be clarified with a broker or custodian,” the Central Bank added.
It was known before approval Rules for the exchange of frozen assets by a government commission. Acceptance of applications will begin on March 25 and continue until May 8. Investment Chamber LLC was appointed as the organizer of the purchase of foreign securities from investors. Citizens will be able to submit more than 3,500 exchange-traded instruments for redemption, and exchange transactions must be completed before September 1, 2024.
Foreigners are given the opportunity to purchase blocked assets from Russians using funds in “C” type accounts. In this way, it is expected that approximately 2.5 million of the 3.6 million Russians with frozen assets will receive a return on their investments.
Formerly at the US Treasury clarified Options for seizing Russian assets.