Russia’s central bank restricts any foreigners’ tender to sell Russian securities

The central bank was yet to concretely decide upon whether to open markets full-fledged; currently only forex and money market are operational. A document was released by the Russian central banks and sent to brokers, two financial executives of the Russian markets informed Reuters.

Moscow’s central bank has directed its financial professionals to restrict access to all foreign legal establishments and persons to sell Russian securities from 7 am Monday onwards. An internal source from the financial platform revealed to Reuters.

The central bank was yet to concretely decide upon whether to open markets full-fledged; currently only forex and money market are operational. A document was released by the Russian central banks and sent to brokers, 2 financial executives of the Russian markets informed Reuters.

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Russian central bank was taking these tough measures to regulate the crisis in the financial markets in the wake of the Ukraine war, it aims to protect the legitimate interests of its several investors in the financial platform.

The central bank on Monday stated that it would release up to 733 billion Russian roubles which are stashed in the local bank’s reserves by giving out capital buffer developed against unsecured mortgages and unsecured consumer loans.

Russia’s central bank order is to be followed with effect from 7:00 am (04:00 GMT) on 28th February and it’s valid till the order will be officially called off.

Although the order does not clearly mention whether it applies to government security. The order is not applicable to applications sent before 7:00 am on 28th February.

This directorate came from Philip Gabunia who is the central bank’s deputy chairman.