Requests for exchange of frozen assets being accepted as scheduled, CBR has no information regarding interruptions - Gabunia

MOSCOW. March 28 (Interfax) - The Central Bank of Russia (CBR) has not received any information about any interruptions in the process of accepting applications for the exchange of investors' blocked assets, which began this week, Central Bank Deputy Chairman Philipp Gabunia said.

"All the information that is available is that everything is being fulfilled within the timeframe that is available. The process has just begun, so I cannot tell you without reservations that everything is going smoothly. But we have not received any signals regarding failures," Gabunia told reporters on the sidelines of the "Exchange Commodity Market-2024" forum hosted by SPIMEX.

Asked whether there are signals about foreigners' readiness to exchange, Gabunia said: "I will not comment on that."

The Investment Chamber brokerage company, which was appointed by a government commission as the organizer of the exchange of blocked assets, began accepting applications for Russian investors to participate in this procedure on March 25. As reported, requests will be accepted until May 8.

Russian investors can apply for the sale of blocked securities with an aggregate initial value of no more than 100,000 through their brokers, trustees or management companies of mutual funds. No commissions or other payments will be levied on sellers.

Non-residents will be able to buy these securities with funds on their "C" accounts. Bids are to be accepted from June 3 to July 5, and settlements within the framework of the asset exchange should take place on July 29.