4 Sep 2023 09:31

CBR to monitor situation with purchases of Russian assets from nonresidents

MOSCOW. Sept 4 (Interfax) - The Central Bank of Russia (CBR) has warned professional market participants about the need to comply with anti-sanctions regulation when conducting transactions with Russian assets, and it will monitor the situation and take measures if necessary, the first deputy governor of the CBR, Vladimir Chistyukhin told reporters on the sidelines of a conference to mark the ten-year anniversary of the "megaregulator."

"It seems to me that professional participants understood what we wanted to say, because with their actions they are actually seriously weakening Russia's negotiating position and using the loopholes in legislation that exist. It seems to us that this is fundamentally wrong and we will fight this by all possible means," Chistyukhin said when asked about the results of a meeting with market professionals that discussed the purchase of assets from foreign platforms and their transfer to Russia.

He said not that much time has passed yet since the meeting at which the problem was discussed. "We will see how the situation develops. I really hope that everyone heard us well and this practice will stop," Chistyukhin said.

RBC reported in August that the CBR held a meeting with brokers and other market participants at which they discussed compliance with presidential decrees Nos. 81 and 138, which impose restrictions on transactions with "unfriendly" nonresidents and require them to be approved by a government commission.