The Investment Chamber, appointed by the government commission as the organizer of the exchange of blocked assets, has published a calculator for preliminary calculation of the total value of foreign securities that Russian investors can offer for redemption. writes about this Interfax.
The starting price of securities is determined in rubles at the Central Bank exchange rate, based on the closing price traded on the main stock exchange on March 22, 2024. Acceptance of applications from Russians will begin on March 25 at 10:00 Moscow time and end on May 8 at 19:00 Moscow time.
Residents of the Russian Federation will be able to apply for the sale of blocked foreign securities with a total value not exceeding 100 thousand rubles through brokers, managers or management companies of investment funds. No fee will be charged. Applications over 100 thousand rubles will be reduced to this amount.
“Established dealers can offer redemption securities with a total initial value not exceeding 100 thousand rubles, regardless of the size of the foreign asset portfolio,” the Investment Chamber emphasized.
Non-residents will be able to purchase these assets using the funds in their special “C” accounts. Applications are scheduled to be accepted between June 3 and July 5, with placements expected to occur on July 29.
Applications of resident individuals cannot be withdrawn until September 1, 2024. Following application, sellers will not be able to temporarily dispose of the documents submitted, but will retain ownership.
previously economist appreciated Conditions for the exchange of frozen assets of Russians.
Putin before allowed Those residing in Russia receive payments from type C accounts.
What are you thinking?
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.