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Peter Davis

An writer at FOMOdrive

  • Aug 28, 2023
  • 2 min read

The Ministry of Finance of the Russian Federation has prepared a plan to unlock the assets of Russians frozen in the West

Finance Minister Anton Siluanov disclosed information regarding a scheme to release the funds of individual investors that are currently blocked in the West.

We are discussing the exchange of Russian assets for the funds that are held in foreign C-type accounts.

An investor from Russia, who does not possess an EU residence permit, has managed to unlock assets valued at €10 million.

At the end of November 2022, the Central Bank estimated that Russian investors' assets worth 5.7 trillion rubles had been blocked in the West since the beginning of the NWO.

Elvira Nabiullina, the head of the Bank of Russia, estimated that by May 2023, Russians had released assets worth 3 trillion rubles. To achieve this, the financial authorities implemented a number of measures, such as a compulsory conversion of depositary receipts.

Anton Siluanov, the head of the Ministry of Finance of the Russian Federation, announced on Tuesday that the Ministry and the Bank of Russia have created a draft decree that would unblock the assets of Russian private investors. Siluanov estimated that the assets of over 3.5 million Russian citizens, worth 1.5 trillion rubles, are currently blocked. This was reported by RBC.

Siluanov emphasized that they envision the start of exchanging the assets of their citizens for the assets of foreign investors, which are currently stored in type C accounts. Initially, they plan to unlock accounts worth around 100 billion rubles that belong to individual investors.

Elena Ryazanova, a sanctions lawyer, believes that the preparation of a decree does not signify the start of an exchange. She views this project as a sign to the West that Russia is ready for an exchange and an invitation to a meaningful dialogue. However, she acknowledges that this is not a speedy process due to its strong political aspect, and that practical steps on the exchange will not be seen until the following year.

A legal company, BGP Litigation, announced that a Russian private investor without a residence permit in the European Union has been granted a license to unlock frozen assets worth more than €10 million in Euroclear from the Belgian treasury. This was reported by Kommersant.

BGP Litigation emphasizes that private investors should not wait for a decision to be made on the collective applications of their brokers or depositories, but instead should apply for individual licenses to release frozen assets for the most effective strategy.

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