T-Bank unfreezes for 450 thousand clients about 3.5 billion rubles in foreign currency funds from the Eternal Wallet, which were blocked due to sanctions. This was announced at the Tolk conference by Stanislav Bliznyuk, chairman of the board of directors of the credit organization. The broadcast was made on the conference website.
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“We were able to recover half of the funds from the funds, not only by allocating closed-end mutual funds (closed-end mutual funds), but also by unlocking part of the assets locked in foreign infrastructure. Almost half of the blocked money was returned to clients,” said the bank director.
At the same time, according to Bliznyuk, the second half of the assets of the “Eternal Wallets” are still locked: they were transferred to closed mutual funds for 2 TUSD and 2 TEUR. For now, these funds will be displayed in portfolios at zero price, but if they are unlocked, the bank will sell assets at market value and pay dividends to unitholders, the chairman of the board of directors said.
The European Union imposed sanctions against T-Bank (then called Tinkoff) in February 2023. The restrictions included freezing the credit institution’s assets and prohibiting EU citizens from conducting transactions with it. In July last year, the credit institution was subject to US sanctions.
After the bank came under European sanctions, the Moscow Stock Exchange suspended trading in shares of 15 exchange-traded investment funds managed by Tinkoff Capital.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
