Russian President Vladimir Putin signed a decree on Tuesday providing withdrawal guarantees for foreign financiers in the Russian stock exchange, a move focused on attracting new foreign capital in the middle of ongoing Western sanctions.The decree, which creates a new type of represent potential investors, comes as foreign financial investment in Russia has been up to its most affordable level since 2001.
Financiers who put funds in Russian securities will be able to repatriate their profits without utilizing C type accounts, which were established to hold possessions from residents of so-called unfriendly nations, and have very restricted withdrawal options.Under the decree, foreign financial investment can be placed in special In type accounts, which use more withdrawal warranties than C type accounts.Investments are then made with funds credited to the accounts from foreign savings account or other institutions situated outside of Russia.The decree prohibits financial investments from other kinds of accounts, along with money withdrawals from In type accounts.These accounts will accommodate funds in both rubles and foreign currencies, in addition to stocks, bonds and investment shares.