Central bank sets procedure for frozen foreign securities sale

MOSCOW, Dec 11 (PRIME) -- The central bank has defined the procedures of interactions between the financial market participants in order to give investors the right to sell blocked foreign securities to non-residents for money on type C accounts, the bank said in a statement on Monday.

"The Central Bank of Russia has outlined the procedures of interactions between the financial market participants to allow Russian investors to sell blocked foreign securities to non-residents for their money on type-C accounts. The securities subject to the sales are the securities listed with the National Settlement Depository," the authority said.

Trade will start after the state commission defines their rules and terms. The pricing terms are also to be set by the state commission. An investor can sell no more than 100,000 rubles of securities.

The foreigners willing to participate in the trade will receive the purchased assets on special transit depo accounts to be open after trade completion. Foreign investors can use money from their type-C accounts.

(91.6402 rubles – U.S. $1)

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