MOSCOW, July 26. /TASS/. The Bank of Russia will consider any mechanisms and ways to protect Russian investors’ legal interests for unfreezing assets, Central Bank Governor Elvira Nabiullina told a press conference following the meeting of the board of directors on the key rate.
"It is difficult for me to comment on the European Commission’s decisions aimed particularly at EU citizens being unable to solve their issues with blocked assets. However, we will consider any mechanisms and ways of protecting the legal interests of Russian investors, we will consider all other ways," she said when asked about the EC’s ban on exchange of assets with Russians.
The European Commission banned the EU citizens and companies from participating in exchange of frozen assets with Russian investors earlier in July.
On November 8, 2023, Russian President Vladimir Putin signed a decree, whereby a portion of funds of foreign investors frozen in Russia could be swapped for frozen assets of Russians. The decree sets forth the procedure for selling foreign securities held by Russians and foreign nations, 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 swamps amounting up to 100,000 rubles ($1,100) per investor.