The Russian Ministry of Finance announced the expansion of the mechanism for the exchange of foreign assets blocked due to sanctions and the opening of the St. It is also considering the possibility of including securities frozen on the St. Petersburg Stock Exchange. Deputy Minister of Finance Ivan Chebeskov told reporters on the sidelines of the Promsvyazbank “Simply Capital” forum, according to reportsTASS.
“Of course, it is fair that shares blocked on the St. Petersburg Stock Exchange are also included in the mechanism of clearing blocked assets,” Chebeskov said.
According to him, it is still difficult to predict the timing of the expansion of the mechanism.
“We need to see how it works in practice and then make recommendations for expansion step by step. “We are ready to propose the expansion of the mechanism,” the deputy minister emphasized.
Before that Bank of Russia reportedSt. Securities frozen due to sanctions against the St. Petersburg Stock Exchange will not be subject to the buyback procedure from the Russians. In response, SPB Bank, the custodian of the stock exchange, stated that it was working on including these securities in the clearing mechanism.
Decree on the exchange of foreign assets was published signed President Vladimir Putin in early November.
previously economist appreciated Conditions for the exchange of frozen assets of Russians.
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Source: Gazeta
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