Bank of Russia, Finance Ministry explore options for frozen assets, keep initiatives private
Quick Look
Bank of Russia Governor Elvira Nabiullina announced that the central bank and the Ministry of Finance are considering various options to assist investors with assets frozen abroad, but will not publicize their initiatives due to obstruction from foreign regulators.
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Why It Matters
Russian investors have assets frozen abroad due to international sanctions, leading the Bank of Russia and Ministry of Finance to seek solutions. Foreign regulators have previously obstructed mechanisms developed by Russia.
MOSCOW, July 24. /TASS/. The Bank of Russia, together with the Ministry of Finance, is considering various options to assist investors with assets frozen abroad but prefers not to publicize its initiatives in advance, the regulator’s Governor Elvira Nabiullina told a press conference following the regulator’s board meeting.
"We are exploring various options with the Finance Ministry to assist investors facing this situation and to reduce the volume of assets they cannot freely manage. However, we have repeatedly encountered instances where foreign regulators obstruct the implementation of mechanisms we develop and block transactions involving residents. For this reason, we prefer not to publicize our initiatives in advance," she said.
Nabiullina previously said that the Bank of Russia did not observe any depletion of the exchange pool of blocked assets.
Open Questions
- What specific options are being considered by the Bank of Russia and Ministry of Finance?
- Which foreign regulators are obstructing these initiatives?
- What is the total volume of frozen assets?
