Russia could compensate retail investors for sanctions-related losses
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MOSCOW — Russia’s central bank is in talks with banks about establishing a fund to compensate retail investors for losses suffered when their foreign security investments were frozen by Western sanctions, the governor said Thursday. Elvira Nabiullina.
“It is possible that the income from non-resident funds that we have, for our part, frozen” could be used to “compensate many investors,” Nabiullina said.
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Russia’s banking system has been hit hard by Western sanctions imposed after Moscow sent tens of thousands of troops to Ukraine on February 24.
The central bank said earlier this week that it planned to gradually limit unqualified retail investors’ access to foreign stocks issued by companies from designated « unfriendly » countries. (Reporting by Andrey Ostroukh; Writing by Felix Light; Editing by Jon Boyle and Mark Potter)
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