Central Bank Orders Private Broker-Client Talks on Blocked Asset…

Professional participants in the securities market must communicate with clients regarding the exchange of blocked foreign assets in an address mode.

Consensus

Professional market participants must communicate with clients about exchanging blocked foreign assets in an address-based manner.
Public dissemination of information about such deals before approval by Russian and foreign regulators is considered an unethical practice.
Clients must be informed about the need for approvals from both Russian and foreign regulators, the lengthy approval process, and the lack of guarantee of approval.
Clients must be informed that they will not be able to manage the assets proposed for exchange for a long time.
Clients must be informed that assets received in the exchange may be subject to restrictions.
The Central Bank emphasized that proper disclosure reflects principles of good faith and reasonableness.

The Central Bank reported that authorities have unblocked foreign assets of Russian investors worth 5.3 trillion rubles since 2022, with total frozen private investor funds estimated at 6 trillion rubles in 2022. — kommersant
In late 2025, several major brokers began collecting client applications for exchanging blocked foreign assets for Russian securities held in 'S' accounts. — interfax
In February, Deputy Director of the Department of Financial Policy at the Ministry of Finance Pavel Shakhlevich said the regulatory commission had received several applications from professional participants, which were under review, with no official decisions announced. — interfax
Market discussions are actively linking possible deals with the prolonged decline in stock prices over recent months. — interfax