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26

Russia To Simplify Access for Foreign Investments

Russia will make it easier for foreigners to buy small amounts of stock in banks

Russia will make it easier for foreigners to buy small amounts of stock in banks, Andrei Kozlov, the Central Bank's deputy chairman said.

As he said, the Bank plans to allow foreigners to buy less than 1 percent of a bank?s shares without informing regulators, Kozlov said. At the moment notification is required for the purchase of even a single share.

Foreigners will still need to receive permission from the Central Bank for any purchase of more than 10 percent of a Russian lender, he said.