The world’s largest US investment company, BlackRock, will start liquidating its Russian stock exchange-traded fund from August 17. Russia ETF, writes Bloomberg, citing a company statement.
The settlement could be delayed until at least the end of 2023, BlackRock said.
Bloomberg notes that this is the first major Russian ETF to be closed in the US. Proceeds from various assets of the Russia ETF, which may be liquidated, will be distributed among shareholders.
Most of the fund’s assets cannot be sold now due to sanctions or suspension of trading on exchanges.
The fund had more than $800 million in assets at its peak in 2018, and its price all but vanished in March of this year.
Author:
anastasia mariana
Source: RB
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