The Bank of Russia, in response to Western sanctions that will block hundreds of billions of dollars of its gold and foreign exchange reserves, decided to apply mirror measures against foreign investors in Russian securities.

The Central Bank freezes non-residents’ investments in all types of stocks and bonds, follows from the regulator’s instruction to professional market participants, which is published by MMI . The authenticity of the document was confirmed by RBC sources in the financial market.

In a document dated February 27, the Central Bank instructs brokers from 7:00 on Monday, February 28, to suspend the execution of all orders of clients – foreign legal entities and individuals for the sale of securities.
The decision was made „in connection with the current crisis situation in the financial market and in order to ensure the protection of the rights and legitimate interests of investors in the financial markets,” according to a document signed by Deputy Chairman of the Central Bank of the Russian Federation Philip Gabunia.

According to the Central Bank, as of February 1, non-residents owned federal loan bonds worth 2.954 trillion rubles, as well as government foreign-currency debt (Eurobonds) worth $19.9 billion.