The scheme aimed to allow both Russian and foreign investors to free up funds immobilized by Western sanctions Individuals and legal entities from the EU are prohibited from participating in a frozen “asset swap” scheme proposed by Russia, according to the European Commission. The department responsible for EU policy on financial services posted the clarification on Wednesday. In March, Russia launched an asset-swap scheme that aimed to allow both Russian and foreign investors to free up funds blocked due to the West’s Ukraine-related sanctions and Moscow’s countermeasures. The swap deal gave investors an opportun
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