9 Nov 2023 18:47

CBR not in talks with external regulators on blocked assets, but sees interest in exchange among nonresidents

MOSCOW. Nov 9 (Interfax) - There is no dialog currently with foreign regulators on investors' assets blocked in Russia and the West, but there is an interest on the part of non-residents to convince them to give permission for an exchange, First Deputy Chairman of the Central Bank of Russia Vladimir Chistyukhin said.

"Dialogue is not ongoing with foreign regulators. Foreign regulators are not ready to conduct this dialog at the moment. From the point of view of business, both Russian and foreign interest is there, that is why the decree was prepared, and we see prospects for it," Chistyukhin told reporters on the sidelines of the Finopolis forum.

"We understand that there is both an interest among Russian participants to help unblock some of their clients' funds, which are in securities frozen abroad, and interest on the part of foreign participants, whose funds are currently frozen in C-type accounts, to try to convince their regulators to authorize such an exchange," he added.

A presidential decree was published yesterday "On additional temporary measures of an economic nature related to the circulation of foreign securities," creating legislative opportunities for the exchange of investors' assets blocked in Russia and abroad.