Restrictions on circulation of securities put in non-trading accounts after being blocked by foreign depositors extended to April 1 - CBR

MOSCOW. Dec 1 (Interfax) - The Central Bank of Russia (CBR) has extended restrictions until April 1, 2023 on the circulation of some foreign securities blocked by international depositories that were previously transferred to non-trading accounts, the CBR said in a press release.

This decision is intended to protect the rights and interests of investors and minimize their risks, the CBR said.

The regulator has instructed Russian depositories to continue to maintain segregated records of the rights of clients to blocked assets. Brokers, meanwhile, cannot accept and execute clients' instructions to conduct transactions with such securities on the exchange market. However, the holders of such foreign securities will retain their ownership rights.

These rules do not apply to securities of foreign issuers who conduct their principal business activities in Russia, the CBR said.