MOSCOW, November 30. /TASS/. The St. Petersburg Exchange is not planning to undergo liquidation or bankruptcy, Sergey Serdyukov, CEO of the Russian securities exchange, said, adding that the bourse is preparing for the launch of a number of new projects in early 2024.

"The St. Petersburg Exchange is planning [to undergo] neither liquidation nor bankruptcy. The St. Petersburg Exchange will continue to develop and plans to continue trading in Russian rubles. We are preparing for the launch of a number of new projects that are to start at the beginning of next year," he said.

However, this will happen only after a clear plan for the exchange’s priority task of unblocking its clients’ assets takes shape, Serdyukov noted. In particular, the St. Petersburg Exchange plans to apply for a license from the US Treasury Department’s Office of Foreign Assets Control (OFAС), which oversees US sanctions, to withdraw assets and said it intends to recover its clients’ assets in full.

"Our main strategy is to interact with the US Office of Foreign Assets Control (OFAC). We plan to agree on the procedure and receive a license from OFAC permitting the withdrawal of assets. We intend to recover our clients’ assets in full; this is our priority task. The strategy for recovering clients’ assets will be formulated soon. We will publish the stages and approximate timeline on the website of the St. Petersburg Exchange," he said.