Earlier this year the Future Fund announced it would divest its holdings in companies listed on the Russian Stock Exchange but on the same day, the Central Bank of Russia banned brokers from executing sales on behalf of non-Russian residents.
abc.net.au/news/australia-future-fund-holding-russian-investment-despite-war/101528882Australia's sovereign wealth fund still holds around $200 million dollars of holdings in 19 Russian companies, almost eight months after the invasion of Ukraine.
But on the same day, the Central Bank of Russia banned brokers on the Moscow Stock exchange from executing sales on behalf of non-Russian residents. "The prohibition remains in place meaning the Moscow Stock Exchange is closed to foreigners, preventing them from selling securities listed on that exchange," a finance spokesperson told the ABC."This sell order does not include price as a factor meaning there is no price that is required to be realised from these investments for them to be divested."
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