Russia Names Broker for Frozen-Assets Swap With Foreigners (1)

Russia appointed a broker to conduct swaps of assets between Russian and foreign investors caught up in international sanctions imposed after the invasion of Ukraine.

Investitsionnaya Palata LLC, a Voronezh-based brokerage that isn’t under sanctions, will gather bids from Russian investors wishing to exchange shares they hold abroad for cash that non-residents hold in so-called C accounts in Russia, according to statements from the Finance Ministry and the company.

Agreed upon swaps are expected to be settled by July 29, according to the statement by Investitsionnaya Palata. It affects only securities recorded in Russia’s National Settlement Depository and the maximum ...