MOSCOW, March 11 The Government Commission for the Control of Foreign Investments approved the terms for the exchange of frozen assets, the Ministry of Finance reported.
“The Government Commission for Control over Foreign Investments in the Russian Federation has established a procedure for calculating the total initial value of alienated foreign securities owned by one resident, and approved the conditions for trading and carrying out transactions (operations. — Ed.) with foreign securities,” — the department clarified.
March 7, 20:14InfographicsWhere the assets of the Central Bank of Russia are frozen
The conditions for conducting transactions were published on the website of the auction organizer, Investment Chamber LLC.
«Settlements for transactions (operations — Editor's note) carried out in accordance with the approved conditions must be completed before September 1, 2024,» the ministry added.< br />President Vladimir Putin in November signed a decree “On additional temporary measures of an economic nature related to the circulation of foreign securities” for the exchange of frozen assets of Russians. According to the document, the total initial value of alienated foreign securities owned by one resident cannot exceed 100 thousand rubles, and transactions within the framework of the decree will be concluded through trading.
The procedure for exchanging blocked assets assumes that foreigners will have the opportunity to purchase blocked foreign assets from Russian retail investors using funds in type “C” accounts.
The Ministry of Finance expects that thanks to this mechanism about three million Russians will be able to return their investments within 100 thousand rubles.