Central Bank of Russia expecting rollout of rules soon to facilitate swap of frozen assets

Business & Economy October 12, 2023, 16:24

"We hope that regulations governing this issue will be approved soon," CBR Governor Elvira Nabiullina added

MOSCOW, October 12. /TASS/. The Central Bank of Russia is expecting relevant regulations to be introduced in the nearest future for facilitating mutual swap deals involving the frozen assets of Russian and foreign investors, CBR Governor Elvira Nabiullina said in remarks before the State Duma.

"We have suggested possible mechanisms for swapping frozen assets not only because we [ourselves] have assets that are frozen, but also because Russia has frozen a portion of the [Russian] assets held by [investors] from unfriendly countries as a tit-for-tat measure. We hope that regulations governing this issue will be approved soon. Bear in mind, though, that we’re talking about a voluntary swap [of frozen assets], which in certain cases would require that regulators in the relevant countries make appropriate decisions," she said.

Nabiullina added that the Central Bank of Russia is prepared to look into various means for resolving the problem of frozen assets held by Russian investors.

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