24 May 2024 16:18

Investors submit over 1 mln applications as part of exchanging blocked assets - Russian Central Bank

MOSCOW. May 24 (Interfax) - Russian investors have submitted slightly over one million applications as part of the procedure to exchange blocked assets, Central Bank Deputy Governor Philipp Gabunia said.

"The procedure to collect applications from Russian investors has ended, and slightly more than one million applications have been submitted, and I need to clarify the amount," Gabunia said at a press conference on Friday.

"Once we have taken stock regarding how successfully the procedure has worked, we will be able to make other plans to expand its perimeter," Gabunia said in response to whether there is currently a development underway to include in the exchange procedure those securities that have been blocked owing to sanctions imposed against the SPB Exchange .

The Russian government commission for overseeing foreign investments in mid-March appointed the Investment Chamber brokerage company to organize the exchange of blocked assets. The Investment Chamber accepted applications from resident individuals from 10:00 a.m. Moscow time on March 25 until 7:00 p.m. Moscow time on May 8, inclusive.