The ban on the sale of securities of companies from “enemy” countries to unqualified investors was extended for six months. The restrictive measure will be in force until October 1, after which an instruction of the Bank of Russia will enter into force, which will make the temporary restriction permanent.

Ban on selling “unfriendly” securities to unqualified investors extended for six months

The Bank of Russia announced the extension of the restrictive measure on transactions with securities of companies from the so-called hostile countries until October 1, 2023. Until that date, it will be impossible to sell securities of issuers from these countries to unqualified investors.

On October 1, the instruction of the Bank of Russia will enter into force, which will make the temporary restriction on trade permanent. Therefore, unqualified investors will no longer be able to buy securities of companies from “enemy” countries.

For qualified investors, securities from “unfriendly” issuers are still available.

In addition, from April 1, the Bank of Russia will require brokers to notify the client about the possible blocking of securities of companies from “friendly” countries, which are accounted for in the deposits of “enemy” countries.

The list of “unsympathetic” countries for Russia includes all the states of the European Union, the USA, Japan, Great Britain and others.

Author:

Kirill Bilyk

Source: RB

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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.

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