Central bank expects no start of frozen assets exchange 2023

MOSCOW, Dec 4 (PRIME) -- The central bank does not expect an exchange of Russians’ blocked assets to start in 2023, although the mechanism will be developed soon, Deputy Chairman Vladimir Chistyukhin said Monday.

"We do not expect the exchange until the year end, of course. There is no mechanism available. After it appears, the desires of all participants must coincide, first, of the securities' owners, then of the type C accounts' owners and so on," Chistyukhin said.

The measures signed in November by the president envisage exchange of Russian residents’ foreign securities for non-residents’ funds accumulated on the type C accounts. Each resident can swap up to 100,000 rubles of such securities.

(89.7619 rubles – U.S. $1)

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