24.02.2023, 19:12
Bloomberg: foreigners have billions of dollars stuck in Moscow
Source: OREANDA-NEWS
OREANDA-NEWS In Moscow, due to sanctions, billions of dollars are accumulating, inaccessible to foreign owners. Bloomberg writes about this.
The agency notes that we are talking about dividends on shares, interest payments on bonds and other assets that foreign investors did not part with until February 24 last year.
It is emphasized that legally the money belongs to large investment companies, including JPMorgan Asset Management and Schroders Plc, but in private conversations investors tend to believe that the money will not be returned.
GAM Investment Management reported that foreigners "should forget about the stuck assets." At the same time, some investors are still looking for legal ways to return their funds.
Earlier, Fabian Mayenfisch, a spokesman for the Swiss State Secretariat for Economics (SECO), said that Swiss banks cannot use Russian money frozen in the country for their own purposes. Prior to that, Switzerland confirmed that there are no legal grounds for transferring frozen assets to Russia to Ukraine. A working group led by the Federal Office of Justice (FJU) of Switzerland came to a corresponding conclusion.
The agency notes that we are talking about dividends on shares, interest payments on bonds and other assets that foreign investors did not part with until February 24 last year.
It is emphasized that legally the money belongs to large investment companies, including JPMorgan Asset Management and Schroders Plc, but in private conversations investors tend to believe that the money will not be returned.
GAM Investment Management reported that foreigners "should forget about the stuck assets." At the same time, some investors are still looking for legal ways to return their funds.
Earlier, Fabian Mayenfisch, a spokesman for the Swiss State Secretariat for Economics (SECO), said that Swiss banks cannot use Russian money frozen in the country for their own purposes. Prior to that, Switzerland confirmed that there are no legal grounds for transferring frozen assets to Russia to Ukraine. A working group led by the Federal Office of Justice (FJU) of Switzerland came to a corresponding conclusion.
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