MOSCOW, March 11. /TASS/. Payments on transactions carried out within the mechanism of exchange of frozen assets in accordance with Russian President’s decree are to be finalized by September 1, 2024, according to files released on the website of the Finance Ministry.

"The governmental commission on control over foreign investment in the Russian Federation has stated the order of calculation of aggregate initial cost of disposed foreign securities owned by one resident, and has approved the terms of trading and making deals (transactions) with foreign securities (published on the website of the organizer of trading LLC Investment Chamber). Payments on deals (transactions) carried out in accordance with the approved terms are to be finalized by September 1, 2024," the ministry said.

Earlier, Russian President Vladimir Putin signed a decree ‘On additional temporary measures of economic nature related to foreign stock trading’ for the purpose of exchange of frozen foreign assets. The decree sets forth the procedure for selling foreign securities held by Russian and foreign nationals, including from unfriendly countries, at the expense of funds actually frozen with such foreigners at Type "C" accounts. This refers so far to the asset swaps amounting up to 100,000 rubles ($1,100) per investor.