Putin signed a decree on the exchange of frozen investment assets. Foreign assets blocked in Russia can now be exchanged for frozen assets of Russians abroad. The decree affects assets whose value does not exceed 100 thousand rubles.
On November 8, Russian President Vladimir Putin signed a decree on additional measures related to the circulation of securities. The document was published on the legal information portal.
The decree provides for the exchange of frozen investment assets. We are talking about assets whose amount does not exceed 100 thousand rubles. The decree allows the exchange of foreign assets blocked in Russia for the same assets of Russian citizens frozen abroad.
The Bank of Russia will regulate the asset trading mechanism and a special government commission will set the conditions for trading, according to the document. For individuals, transactions will be free of charge from the auction organizers.
The foreign assets of Russian investors are currently de facto blocked, as well as the assets of foreign investors in Russia; All of them are frozen in special accounts in which the dividends that must be paid to shareholders are credited.
Author:
Kirill Bilyk
Source: RB
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