Brokers are ready to buy assets from their clients that have been blocked due to Western sanctions. Words from Alexey Timofeev, President of the National Association of Stockbrokers (NAUFOR) leads to RBC Investments.
“In practice, many brokers are ready to repurchase blocked securities from their clients and do so at a large discount due to the high uncertainty at release times,” Timofeev said.
However, the head of NAUFOR explained that such transactions can only take place at a large discount. This is associated with high uncertainty in terms of unlocking customer assets.
At the same time, the expert declined to advise on whether the frozen assets should be sold now or wait for the unblocking. According to Timofeev, private investors should try to unlock assets by licensing them in the European Union. The same practice is followed by the National Settlement Depot (NSD). However, it is unknown how long such a process will take.
Bank of Russia previously requested From banks to draw up individual plans to work with assets blocked due to western sanctions. By August 22, the regulator asked him to provide information on both the parent organization and key subsidiaries. But not all leading Russian banks are currently ready to offer solutions for working with frozen assets.