JRL NEWSWATCH: “Moscow hopes frozen assets swap scheme will benefit Russian stocks” – Reuters
“Russia hopes its stock market will benefit from a scheme … where Russians who own frozen foreign securities will be able to apply to sell them to foreigners with frozen assets in Russia …. Moscow presents the plan as a way for … Russian and foreign investors to free up assets … blocked by Western sanctions and Russian counter-measures …. [M]ore than 3.5 million Russians have frozen assets abroad worth around 1.5 trillion roubles ($16.3 billion). …”
The proposal reportedly would allow Russian investors to apply to sell up to 100,000 rubles worth of foreign securities. Russia’s central bank suggests that 80% of Russian investors potentially impacted by the proposal have frozen foreign assets up to that level.