Alexei Klementiev, Senior Associate at Finance Practice at Rybalkin, Gortsunyan, Dyakin and Partners law firm (RGD), was invited to contribute to a Bloomberg News article about the recent changes in the procedure established for selling Russian securities. These changes were implemented following a new decree by the President of the Russian Federation.
The author offers an in-depth analysis of the new decree which requires Russian investors to obtain the approval of the Central Bank or a Special Government Commission in order to make transactions with securities acquired from unfriendly countries after March 1, 2022.
According to Alexei Klementiev, the restriction on domestic sales of offshore securities will reduce the incentives for such transactions by Russian investors as the opportunities for resale of those assets are subject to ultimate approval within Russia.
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