(This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine.)
MOSCOW (Reuters) – The Russian central bank is in talks with banks on the creation of a fund to compensate for losses of retail investors who had their money in foreign securities frozen by western sanctions, Central Bank Governor Elvira Nabiullina said on Thursday.
Russia’s banking system has been hard hit by Western sanctions imposed after Moscow ordered tens of thousands of troops into Ukraine on Feb. 24.
The central bank said earlier this week it plans to gradually limit access for non-qualified retail investors to foreign shares issued by companies from designated “unfriendly” countries.
(Reporting by Andrey Ostroukh; Writing by Felix Light; Editing by Jon Boyle)
