The Central Bank spoke about the timing of the exchange of blocked assets

Deputy Chairman of the Central Bank of the Russian Federation Vladimir Chistyukhin said that the mechanism for exchanging blocked assets will not work until early 2024, but the presentation of the scheme itself is “just around the corner.”

“Of course, we don’t expect an exchange until the end of the year. There is no scheme yet, and then there will be a long period, as it appears, of aligning the will of all parties – first the owners of the securities, then the owners of type “C” accounts, and so on“, – quotes Chistyukhin as saying “RIA News”.

The deputy chairman of the Central Bank also said that the scheme is currently being discussed.

Let us note that Russian President Vladimir Putin signed a decree on November 8 that allows for the exchange of assets frozen in Russia and abroad. It is understood that foreign investors will be able to purchase foreign securities in the Russian Federation using funds held in type “C” accounts.

It was noted that brokers and other securities market participants would participate in the exchange.