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10 Apr 2023, 12:48

Funds at Type C nonresident accounts comparable with Russian assets frozen overseas

A Type C account is a bank account that can be opened for a nonresident with an authorized credit institution

MOSCOW, April 10. /TASS/. Funds kept at Type C accounts are comparable with the amount of Russian assets frozen abroad, deputy finance minister Aleksey Moiseev said in the State Duma, the lower house of the Russian legislative assembly.

"We have a volume of assets blocked at Type C accounts. It is comparable with the amount of frozen Russian assets outside the Russian Federation," the official said.

A Type C account is a bank account that can be opened for a nonresident with an authorized credit institution. It is intended for nonresident’s transactions of buying and selling foreign exchange for rubles.