"Russia Responds to Western Sanctions... Ban on Foreign Investors Selling Securities and Transferring Assets"
[Asia Economy Reporter Kim Heung-soon] Russia has reportedly taken a series of measures to restrict the movement of assets within Russia by unfriendly countries as a retaliatory action against the West, which froze Russian assets.
On the 25th (local time), the Central Bank of Russia explained on its official website that "measures such as capital movement restrictions, prohibition of foreign investors selling securities, and withdrawal of financial sector assets have been implemented."
It also added that payments of principal and interest on Russian government and corporate bonds to countries supporting sanctions against Russia will require approval from government-related committees.
The Central Bank emphasized, "In response to the freezing of some Russian assets, Russia has also restricted asset transfers of a similar scale that could move to unfriendly countries."
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Earlier, Anton Siluanov, Russia's Minister of Finance, stated that about $300 billion (approximately 367 trillion won), equivalent to about half of Russia's total foreign exchange reserves, had been frozen due to Western sanctions related to the Ukraine situation.
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