(MENAFN) According to estimates made public by the Bank of Russia on Tuesday, about USD81 billion in cash belonging to Russian shareholders have been obstructed by Western financial institutions.
At Western financial institutions as of November 30 of last year, there were 5.7 trillion rubles (USD80.8 billion) worth of frozen assets. The regulator noted that ordinary investors control over 20 percent of the funds.
The Russian central bank forbade brokers from carrying out deals for untrained individuals to buy securities from ostensibly "unfriendly’ " nations last year in an effort to reduce risks and safeguard investors. Additionally, the regulator put retaliatory limits on non-residents' ownership of assets subject to Russian jurisdiction.
The chief of the central bank's investment division, Olga Shishlyannikova, declared that the "story" of the frozen assets is "very complicated" and would continue to have a negative influence on investors when speaking at a conference on the international problems confronting Russian financial markets.
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