MOSCOW, March 12. /TASS/. The Russian Finance Ministry assumes that the blocked assets swamp mechanism can be expanded in the future and cover securities frozen at the SPB Exchange, Deputy Minister Ivan Chebeskov told reporters.
"A new decree must be issued; amendments must be made in the decree. We would like to see how this process will go live, how it will work in practice. Certainly, this is fair for stocks blocked at the SPB Exchange to be covered [by the frozen assets swap mechanism]. It is difficult to make any forecasts as regards the timeframe now - we need to see how this mechanism will work and then make proposals on its expansion; to move step by step. We are ready to suggest expanding the mechanism on our side," Chebeskov said.
The Investment Chamber announced the day before parameters of the deal to buy out foreign securities from Russian private investor in rubles, including from Type C accounts. The Bank of Russia reported in its turn that securities blocked after introduction of sanctions against the SPB Exchange will not be covered by the redemption procedure. SPB Bank, the depository for SPB Exchange settlements, informed later that it is discussing the inclusion of foreign securities blocked after imposition of sanctions on the SPB Exchange with authorized government agencies.