Interest Shown by Foreign Investors in Trading Frozen Assets, Russian Finance Ministry Develops Exchange Mechanism

The Russian Finance Ministry notes the evident interest from foreign investors pertaining to the exchange of their frozen assets. Deputy Finance Minister Ivan Chebeskov confirmed this sentiment on Tuesday, insisting that the commitment to formulating an exchange mechanism was a direct response to international demand.

Approval of Exchange Terms

A government commission responsible for overseeing foreign investments recently sanctioned the guidelines to facilitate the asset exchange process, setting a completion deadline for all related transactions by September 1. The move comes as a strategic effort to address the concerns and interests of foreign investors in a regulated manner.

The Exchange Mechanism in Detail

The devised procedure allows foreign investors to acquire frozen assets from Russian individuals. This process will utilize financial assets held in designated C-type accounts. The Russian populace interested in this exchange program will be given a window beginning March 25 through May 8 to submit their applications. During this period, a variety of over 3,500 exchange instruments for purchasing back frozen assets will be made available for Russian citizens.

Ivan Chebeskov stressed that the existence of this mechanism points to a clear economic interest from foreign parties to unlock their assets. According to him, the necessity to create such a system wouldn't arise had there been no international appetite for it. However, he clarified that the ministry isn't directly involved in any negotiations.

Russia, Investors, Assets