The Ministry of Finance of Russia warned about the increased risks of the arrest and blocking Russian assets abroad. The agency reports this in an explanatory note to the amendments to the Budget Code on the management of the funds of the National Welfare Fund (FNB), the newspaper Izvestia reports.
In particular, we are talking about assets in the USA and Western Europe. The agency notes that to protect against such risks will allow the provision of foreign governments of the FNB funds in the form of loans for the purchase of Russian products.
A number of restrictions are provided for the placement of free funds of the FNB. The list of investments is approved by the government. At the same time, the participation of the FNB in the project should not be higher than 25 percent of the volume of private investments and 40 percent of the amount of borrowed funding, and the amount of investments should not exceed one trillion rubles for three years. In addition, the return on investment or interest income on interstate loans should be no less than the yield of OFZ.
It is noted that the established limitations can be broken. However, this will require a special decision of the president or the chairman of the government.