Sanctions in the case: The US has blocked over $ 3 billion on the Russian Exchange

Meanwhile, the Russians, according to the Central Bank, reduced investments in foreign securities from $ 7 billion in February 2022 to $ 3 billion in November 2023. The United States of America with the help of sanctions blocked over three billion dollars in the Russian "St. Petersburg". About it with reference to the statement of the exchange of the exchange writes the edition of The Moscow Times.

"Foreign securities were just over $ 3 billion more than $ 3 billion after the US blocking sanctions on November 2," the exchange statement reads. According to journalists, the day before the head of the Central Bank of the Russian Federation Elvira Nabiullin said that the Russians reduced investments in foreign securities from $ 7 billion in February 2022 to $ 3 billion in November 2023. After the SPB of the Exchange was on the "black list", the auction on it was stopped.

The US Foreign Assets Control Office has released a license by allowing you to complete operations with the site by January 31, 2024. At the same time, on December 19, the SPB of the Exchange issued a statement that reported problems with the unblocking of client assets. They noted that US counterparties who have a connection with the United States do not want to be guided by the OAC license because they are afraid of secondary sanctions.

At the same time, according to the publication, the Exchange planned to ask ofac to release additional explanations that would deprive its risk counterparties to violate restrictions on the withdrawal of customer assets. To do this, the site wanted to reduce the control share in his settlement depository - "St. Petersburg Bank", where foreign papers and funds in currency were accounted.

The bank should then confirm "the lack of benefit from unblocking assets for a sub -legal entity" and must contact OAC to obtain three licenses. It is noted that the auctions on the exchange occur only on Russian papers, which on the exchange have a minority. Operations with foreign paper on the exchange have been stopped from November 2.

The Russian collective investment market has lost access to securities of foreign companies against the background of sanctions against the infrastructure of the Russian Federation, in particular "St. Petersburg". Thus, on November 2, 2023, the Exchange and several major Russian banks and companies were under the blocking sanctions of the United States. On the same day, the bidding on the site was stopped.