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Bank of Russia extends restrictions on exchange trade in blocked securities

30 November 2022
News

The Bank of Russia has extended until 1 April 2023 the restriction on the circulation of certain foreign securities blocked by international depositories that were earlier transferred into non-trading accounts. This decision is aimed at protecting investors' rights and interests and minimising their risks.

In accordance with the regulator’s instruction, Russian depositories should continue to keep separate records of their clients’ rights to blocked assets. Brokers, in turn, are not entitled to accept and execute clients’ orders to carry out transactions with such securities in the exchange market. However, the holders’ title to such foreign securities is retained.

These rules do not apply to securities of foreign issuers conducting their main business in Russia.

Preview photo: Fanjianhua / Shutterstock / Fotodom
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