Russian broker successfully offloads $87m in frozen assets

The Russian broker managing an asset swap scheme to release frozen funds for investors reported on Tuesday that it has successfully sold 8.1 billion roubles ($87.19 million) worth of securities to non-resident investors.

The broker, Investitsionnaya Palata (Investment Chamber), noted that new sanctions imposed during the bidding process have caused delays in foreign investors’ ability to access these securities.

The scheme aims to help both Russian and foreign investors access assets blocked by Western sanctions and Russian countermeasures since the start of the Ukraine conflict.

Attribution: Reuters

Subediting: M. S. Salama