Putin signs decree on possible swap of assets frozen in Russia and abroad

President of Russian Federation Vladimir Putin

© APA | President of Russian Federation Vladimir Putin

# 08 November 2023 21:09 (UTC +04:00)

Russian President Vladimir Putin signed a decree, whereby a portion of funds of foreign investors frozen in Russia can be swapped for frozen assets of Russians, APA reports citing TASS.

The relevant document was posted on the official web portal of legal information.

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 investors. Terms of auctions to perform relevant transactions will be set by the government commission on control over foreign investments.

The decree came into force from the day of signing.

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