The Central Bank is developing a mechanism for unblocking the accounts of friendly non-residents

CrimeaPRESS reports:

The Bank of Russia is discussing the issue of unfreezing the accounts of depositories from friendly countries to simplify the admission of foreign investors to the Russian market, reports RBC with reference to three sources in the financial market.

As the publication explains, due to the fact that foreign depositories are «locked» in type «C» accounts, friendly investors cannot work on the Russian market through them, and the Bank of Russia is faced with the task of attracting non-residents to it, one of the sources said. In order to solve this problem, you need to unblock the accounts of depositaries from friendly countries.

Another interlocutor of RBC confirmed that there is a request from market participants to unfreeze special accounts of friendly residents, and the Central Bank of the Russian Federation is now working on it. This issue is being discussed with the Central Bank, the third source of the publication adds, although there are no specific decisions on how exactly the “C” account mode could be removed.

The Central Bank did not respond to RBC’s request.

Account type «C» — a bank account that can be opened to a non-resident in an authorized credit institution. It is designed to carry out transactions for the purchase and sale of foreign currency by a non-resident for rubles.

Based on materials TASS.

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