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Putin Decree Puts Popular Route Out of Russia Assets on Hold

  • Traders say it’s now hard to do deals via ‘friendly’ nations
  • Brokerages seek clarification on new rules from Central Bank
Updated on

New Russian rules are complicating a popular route for investors to exit their holdings by selling their securities to brokerages in so-called friendly nations.  

According to the decree signed by Russian President Vladimir Putin last week, transactions with government ruble bonds, depository receipts and eurobonds that were purchased after March 1 last year from investors in unfriendly countries and registered with Russian custodians, will now require approval from the central bank or a special government commission.