Foreign citizens with a Russian residence permit will be able to unfreeze assets

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On July 21, the National Association of Stock Market Participants published an explanation that foreign citizens from unfriendly states with a Russian residence permit will sell Russian securities and will have access to money in their “C” accounts.

At the moment, as the Central Bank explains, payments in favor of foreigners living in Russia with a residence permit will be made without using “C” type accounts. However, paragraph 8 of the decree provides for some exceptions – the “C” type account must be used if the requirements are assigned after March 1, 2022 to residents and non-residents.

Foreigners permanently residing in Russia with a residence permit will not be unfriendly non-residents for the government, therefore, restrictions on securities will not apply to them. Regulations prohibiting brokers from the Russian Federation from selling securities on behalf of foreign clients will also not apply. When submitting documents for a residence permit, foreigners do not need to take into account the rights to accounts of type “C”.