The Ministry of Finance has proposed banning the purchase of foreign securities from individual investment accounts. The department believes that encouraging Russians to buy such securities is inappropriate under the pressure of sanctions.
Russians may be prohibited from purchasing securities of foreign issuers using funds from individual investment accounts. This proposal was made by the Ministry of Finance, the draft resolution was published on the portal of regulatory legal acts.
The Ministry of Finance considers it inappropriate to encourage the purchase of such securities under conditions of “unprecedented sanctions pressure.” If the Ministry of Finance’s proposal is accepted, the purchase of securities will be prohibited as of January 1, 2024.
At the moment, only qualified investors can purchase securities from issuers in countries that have imposed sanctions on Russia. In addition, only qualified investors can buy and sell securities of issuers in Europe and the United States.
Non-qualified investors can transact in foreign securities of companies from countries that have not imposed sanctions against Russia and do not conduct their main activities in Russia or the EAEU countries.
Author:
Kirill Bilyk
Source: RB
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